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January 25, 2021

Listings and Pendings

New Listings and Pending Sales

January 25, 2021

Inventory

Inventory

January 25, 2021

Existing Home Sales

Existing Home Sales

January 25, 2021

Weekly Report

Weekly Market Report

For Week Ending January 16, 2021

Mortgage giant Freddie Mac reported this week that rates on a 30-year fixed-rate mortgage averaged 2.79% with .7 points. That is up slightly from the record lows seen last week, but almost one percent lower than the same week a year ago. Rates are expected to increase slightly this year, with the National Association of REALTORS® expecting rates to average 3.1 percent in 2021, and the Mortgage Bankers Association estimating an average of 3.3 percent.

In the Twin Cities region, for the week ending January 16:

  • New Listings increased 0.8% to 929
  • Pending Sales increased 7.4% to 815
  • Inventory decreased 40.2% to 5,125

For the month of December:

  • Median Sales Price increased 10.0% to $307,000
  • Days on Market decreased 30.4% to 39
  • Percent of Original List Price Received increased 2.5% to 99.7%
  • Months Supply of Homes For Sale decreased 41.2% to 1.0

All comparisons are to 2020

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

January 21, 2021

Interest Rates

Mortgage Rates Move Slightly

January 21, 2021
Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a global health crisis. We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time, if needed until the economy rebounds.

Information provided by Freddie Mac.

January 18, 2021

Listings and Pendings

New Listings and Pending Sales

January 18, 2021

Inventory

Inventory

January 18, 2021

Weekly Report

Weekly Market Report

For Week Ending January 9, 2021

The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey reported that 5.53% of mortgage loans remained in forbearance as of December 27, 2020. While the forbearance rate is down significantly from its highest levels in 2020, the MBA estimates the current rate represents 2.7 million homeowners currently in forbearance plans.

In the Twin Cities region, for the week ending January 9:

  • New Listings decreased 8.3% to 927
  • Pending Sales increased 1.3% to 636
  • Inventory decreased 39.8% to 5,098

For the month of December:

  • Median Sales Price increased 10.0% to $307,000
  • Days on Market decreased 30.4% to 39
  • Percent of Original List Price Received increased 2.5% to 99.7%
  • Months Supply of Homes For Sale decreased 47.1% to 0.9

All comparisons are to 2020

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

January 14, 2021

Interest Rates

Mortgage Rates Tick Up

January 14, 2021
As Treasury yields have risen, it is putting pressure on mortgage rates to move up. While mortgage rates are expected to increase modestly in 2021, they will remain inarguably low, supporting homebuyer demand and leading to continued refinance activity. Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.

Information provided by Freddie Mac.

January 11, 2021

Listings and Pendings

New Listings and Pending Sales

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