A brief excerpt:
NOTE: The tables for active listings, new listings and closed sales all include a comparison to February 2019 for each local market (some 2019 data is not available).
This is the third look at several local markets in February. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.
Closed sales in February were mostly for contracts signed in December and January when 30-year mortgage rates averaged 6.82% and 6.64%, respectively. This is down from the 7%+ mortgage rates in the August through November period.
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In February, sales in these markets were up 1.4% YoY. In January, these same markets were up 2.4% year-over-year Not Seasonally Adjusted (NSA).
Sales in most of these markets are down compared to January 2019.
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More local markets to come!
There is much more in the article.