Lawler: Early Read on Existing Home Sales in August, Calculated Risk From housing economist Tom Lawler: Early Read on Existing Home Sales in August Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.88 million in August, down 1.8% from July’s preliminary pace and down 3.7% from last August’s seasonally adjusted pace. Unadjusted sales should show a slightly larger YOY % decline, as there was one fewer business day this August compared to last August. Local realtor/MLS reports suggest that the existing single-family home sales price last month was up 3.5% from
Topics:
Angry Bear considers the following as important: housing, US EConomics
This could be interesting, too:
NewDealdemocrat writes Real GDP for Q3 nicely positive, but long leading components mediocre to negative for the second quarter in a row
Joel Eissenberg writes Healthcare and the 2024 presidential election
NewDealdemocrat writes JOLTS report for September shows continued deceleration in almost all metrics, now close to a cause for concern
NewDealdemocrat writes Repeat home sales accelerate slightly monthly, but continue to show YoY deceleration
Lawler: Early Read on Existing Home Sales in August,
From housing economist Tom Lawler:
Early Read on Existing Home Sales in August
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.88 million in August, down 1.8% from July’s preliminary pace and down 3.7% from last August’s seasonally adjusted pace. Unadjusted sales should show a slightly larger YOY % decline, as there was one fewer business day this August compared to last August.
Local realtor/MLS reports suggest that the existing single-family home sales price last month was up 3.5% from last August.
CR Note: The National Association of Realtors (NAR) is scheduled to release August Existing Home Sales on Thursday, September 19th at 10 AM ET. The consensus is for 3.85 million SAAR, down from 3.95 million in July.
Mortgage Rates for Top-Tier Borrowers Fall Below 6% for First Time Since Early February of 2023
The Optimal Blue 30-Year Fixed-Rate Mortgage Index for borrowers with a FICO score above 740 and an LTV greater than 80% fell to 5.966% on Friday, the first time this index was below 6% since February 3, 2023. The Optimal Blue Indexes are based on actual rate-lock activity.
