Full Width 
Shortcuts 
Sign Up 
Log In 
Articles 
Reading List More from Calculated Risk
From the Las Vegas Visitor Authority: December 2024 Las Vegas Visitor Statistics Closing out the year with Dec visitation of 3.4M visitors (+0.2% YoY), Las Vegas hosted approx. 41.7M visitors for the year, up 2.1% from last year’s 40.8M visitors. emphasis added Click on graph for larger image. Visitor traffic was up 0.2% compared to last December. Visitor traffic was down 3.2% compared to December 2019. Annual visitor traffic was down 2.0% compared to 2019. Convention traffic was up 42.7% compared to December 2023, and down 9.1% compared to December 2019. Annual convention traffic was down 9.8% compared to 2019.
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in December and a Look Ahead to January Sales A brief excerpt: After the National Association of Realtors® (NAR) releases the monthly existing home sales report, I pick up additional local market data that is reported after the NAR. This is the final look at local markets in December. Here is a look at months-of-supply using NSA sales. Since this is NSA data, it is likely this will be the seasonal low for months-of-supply. There is much more in the article.
From the NAR: Pending Home Sales Fell 5.5% in December Pending home sales retracted 5.5% in December – following four consecutive months of increases – according to the National Association of REALTORS®. All four U.S. regions experienced month-over-month losses in transactions, with the most significant fall in the West. Year-over-year, contract signings reduced in all four U.S. regions, with the Midwest seeing the largest decrease. Year-over-year, pending transactions declined 5.0%. Last year’s cyclical low point occurred in July 2024 at 70.2. An index of 100 is equal to the level of contract activity in 2001. emphasis added Note: Contract signings usually lead sales by about 45 to 60 days, so this would usually be for closed sales in January and February.
The DOL reported: emphasis added The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 212,500. The previous week was unrevised. Weekly claims were below the consensus forecast.
More in finance
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Gross Domestic Product, 4th quarter and Year 2024 (Advance estimate). The consensus is that real GDP increased 2.6% annualized in Q4. initial weekly unemployment claims report will be released. The consensus is for a increase to 228 thousand from 223 thousand last week. Pending Home Sales Index for December. The consensus is for a 1.0% decrease in the index.
Plus! AI Price Discrimination; Openness; Disclosure; Arbitrage; Meta
Artificial intelligence (AI) is transforming creative industries, but it has also raised serious legal and ethical questions.
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.1% Below 2022 Peak It has been over 18 years since the housing bubble peak. In the November Case-Shiller house price index released yesterday, the seasonally adjusted National Index (SA), was reported as being 77% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 12% above the bubble peak (and historically there has been an upward slope to real house prices). The composite 20, in real terms, is 3% above the bubble peak. The second graph shows the same two indexes in real terms (adjusted for inflation using CPI). House Prices: 7 Years in Purgatory) There is much more in the article!
