by Invoice McBride
From housing economist Tom Lawler:
Primarily based on publicly-available native realtor/MLS studies launched throughout the nation by way of at this time . . .
I venture that present residence gross sales as estimated by the Nationwide Affiliation of Realtors ran at a seasonally adjusted annual price of three.97 million in October, up 3.4% from September’s preliminary tempo and up 3.1% from final October’s seasonally adjusted tempo. Unadjusted gross sales ought to present a reasonably larger YOY % acquire, reflecting this October’s larger enterprise day rely in comparison with final October’s.
Native realtor/MLS studies counsel that the median present single-family residence gross sales worth final month was up by about 4.7% from a 12 months earlier.
CR Word: The NAR is scheduled to launch October Present Dwelling gross sales on Thursday, Nov twenty first at 10:00 AM. The consensus is for 3.88 million SAAR, up from 3.84 million in September. Final 12 months, the NAR reported gross sales in October 2023 at 3.85 million SAAR. This would be the first year-over-year acquire since August 2021 following 37 months with a year-over-year decline.
Replace on Curiosity Charges For the reason that Fed Started Decreasing Its Federal Funds Charge Goal Vary
Since September 17, 2024 the Federal Reserve has lowered its federal funds price goal vary by 75 foundation factors. Beneath is a desk displaying Treasury charges and chosen MBS yields from September 17 to November 14.
Chart of the Week
Word: 2000.01 to 2024.03 are Quarterly Averages; 2024.04 is for November 14, 2024
