Lawler: Early Learn on Present Dwelling Gross sales in August,
From housing economist Tom Lawler:
Early Learn on Present Dwelling Gross sales in August
Based mostly on publicly-available native realtor/MLS stories launched throughout the nation by at present, I challenge that present residence gross sales as estimated by the Nationwide Affiliation of Realtors ran at a seasonally adjusted annual charge of three.88 million in August, down 1.8% from July’s preliminary tempo and down 3.7% from final August’s seasonally adjusted tempo. Unadjusted gross sales ought to present a barely bigger YOY % decline, as there was one fewer enterprise day this August in comparison with final August.
Native realtor/MLS stories counsel that the present single-family residence gross sales worth final month was up 3.5% from final August.
CR Observe: The Nationwide Affiliation of Realtors (NAR) is scheduled to launch August Present Dwelling Gross sales on Thursday, September nineteenth at 10 AM ET. The consensus is for 3.85 million SAAR, down from 3.95 million in July.
Mortgage Charges for High-Tier Debtors Fall Under 6% for First Time Since Early February of 2023
The Optimum Blue 30-12 months Fastened-Fee Mortgage Index for debtors with a FICO rating above 740 and an LTV higher than 80% fell to five.966% on Friday, the primary time this index was beneath 6% since February 3, 2023. The Optimum Blue Indexes are based mostly on precise rate-lock exercise.
