by Calculated Risk on 6/20/2025 08:44:00 AM
Today, in the Calculated Risk Real Estate Newsletter: California Home Sales “Sputter” in May; 4th Look at Local Markets
A brief excerpt:
From the California Association of Realtors® (C.A.R.): California housing market sputters for third straight month in May as home sales and prices pull back, C.A.R. reports
May’s sales pace fell 5.1 percent from the 267,710 homes sold in April and was down 4.0 percent from a year ago, when 264,850 homes were sold on an annualized basis. May’s sales level was the lowest in four months. The year-over-year decline was the largest since December 2023 …
In May, sales in these markets were down 3.7% YoY. Last month, in April, these same markets were down 3.4% year-over-year Not Seasonally Adjusted (NSA).
Important: There were fewer working days in May 2025 (21) as in May 2024 (22). So, the year-over-year change in the headline SA data will be higher than for the NSA data.
…
Several local markets – like Illinois, Miami, New Jersey and New York – will report after the NAR release.
There is much more in the article.
