Weekly Report

Weekly Market Report


For Week Ending May 30, 2020

Buyer activity continues to improve as states and localities slowly open up. ShowingTime is reporting that nationally, showing activity has been climbing since mid-April and is now at or above the same time last year. This increase in buyer showings predicts continued improvement in pending and closed sales numbers in the weeks to come.

In the Twin Cities region, for the week ending May 30:

  • New Listings decreased 27.8% to 1,406
  • Pending Sales decreased 10.7% to 1,246
  • Inventory decreased 16.4% to 9,935

For the month of April:

  • Median Sales Price increased 8.9% to $305,000
  • Days on Market decreased 17.5% to 47
  • Percent of Original List Price Received increased 0.5% to 99.9%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2019

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

Weekly Report

Weekly Market Report


For Week Ending May 30, 2020

Buyer activity continues to improve as states and localities slowly open up. ShowingTime is reporting that nationally, showing activity has been climbing since mid-April and is now at or above the same time last year. This increase in buyer showings predicts continued improvement in pending and closed sales numbers in the weeks to come.

In the Twin Cities region, for the week ending May 30:

  • New Listings decreased 27.8% to 1,406
  • Pending Sales decreased 10.7% to 1,246
  • Inventory decreased 16.4% to 9,935

For the month of April:

  • Median Sales Price increased 8.9% to $305,000
  • Days on Market decreased 17.5% to 47
  • Percent of Original List Price Received increased 0.5% to 99.9%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2019

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

Interest Rates

Mortgage Rates Tick Up Slightly

June 4, 2020
As the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low mortgage rates are a key factor in this recovery. While homebuyer demand is up and has been broad-based across most geographies, supply has been slower to improve. In fact, the gap between supply and demand has widened even further than the large gap that existed prior to the pandemic.

Information provided by Freddie Mac.

Weekly Report

Weekly Market Report


For Week Ending May 23, 2020

Mortgage rates have now been below 3.30 percent for four consecutive weeks, according to the latest update from Freddie Mac. These near-record low rates have been a catalyst for the recovering buyer activity in the housing market while sellers continue to maintain a little more cautious approach.

In the Twin Cities region, for the week ending May 23:

  • New Listings decreased 11.7% to 1,668
  • Pending Sales decreased 11.0% to 1,453
  • Inventory decreased 17.1% to 9,764

For the month of April:

  • Median Sales Price increased 8.9% to $305,000
  • Days on Market decreased 17.5% to 47
  • Percent of Original List Price Received increased 0.5% to 99.9%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2019

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

Interest Rates

Mortgage Rates Hit Another All-Time Low

May 28, 2020
The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year history, breaking the record for the third time in just the last few months. These unprecedented rates have certainly made an impact as purchase demand rebounded from a 35 percent year-over-year decline in mid-April to an 8 percent increase as of last week—a remarkable turnaround given the sharp contraction in economic activity. Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year. This means a broader base of borrowers are taking advantage of the record low rate environment, which will benefit the economy.

Information provided by Freddie Mac.

All information deemed reliable but not guaranteed and should be independently verified.

Powered By WordPress | © 2024 MightyAgent