Remaining Have a look at Native Housing Markets in Could and a Look Forward to June Gross sales

by Calculated Danger on 6/27/2025 11:12:00 AM

At the moment, within the Calculated Danger Actual Property E-newsletter: Remaining Have a look at Native Housing Markets in Could and a Look Forward to June Gross sales

A short excerpt:

After the Nationwide Affiliation of Realtors® (NAR) releases the month-to-month current house gross sales report, I choose up extra native market information that’s reported after the NAR. That is the ultimate have a look at native markets in Could.

There have been a number of key tales for Could:

• Gross sales NSA are down year-over-year (YoY) via Could, and gross sales final yr have been the bottom since 1995! The YoY comparisons shall be simpler the following a number of months, so gross sales in 2025 could be near the extent in 2024.

• Gross sales SA have been down YoY for the 4th consecutive month and 41 of the final 45 months.

• Months-of-supply is on the highest stage since 2016 (tying one month close to the beginning of the pandemic).

• The median worth is barely up YoY, and with the will increase in stock, some regional areas will see extra worth declines.

Gross sales at 4.03 million on a Seasonally Adjusted Annual Charge (SAAR) foundation have been above the consensus estimate; nevertheless, housing economist Tom Lawler’s estimate was proper on (often very shut).

Gross sales averaged shut to five.44 million SAAR for the month of Could within the 2017-2019 interval. So, gross sales are about 26% beneath pre-pandemic ranges.
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In Could, gross sales in these markets have been down 3.8% YoY. Final month, in April, these similar markets have been additionally down 3.8% YoY Not Seasonally Adjusted (NSA). The NAR reported gross sales in Could have been down 4.0% YoY NSA, so this pattern is shut.

Vital: There have been fewer working days in Could 2025 (21) as in Could 2024 (22). So, the year-over-year change within the headline SA information was larger than for the NSA information. Based on the NAR, seasonally adjusted gross sales have been solely down 0.7% YoY in Could.
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Extra native information coming in July for exercise in June!

There may be far more within the article.