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Weekly Market Report
The summer selling season is progressing with plenty of buying and selling activity thus far, thanks to a healthy economy that has consumers willing to spend their hard-earned money on the things they desire, even if it’s more expensive than it was a few years ago. This has proven to be true in several sectors, whether retail, travel or even housing, the most expensive purchase most people will ever make in their lives.
In the Twin Cities region, for the week ending June 29:
- New Listings increased 0.4% to 1,878
- Pending Sales decreased 5.0% to 1,498
- Inventory decreased 0.3% to 12,083
For the month of May:
- Median Sales Price increased 5.2% to $285,000
- Days on Market decreased 4.3% to 45
- Percent of Original List Price Received decreased 0.2% to 100.0%
- Months Supply of Homes For Sale increased 4.3% to 2.4
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Weekly Market Report
The summer selling season is progressing with plenty of buying and selling activity thus far, thanks to a healthy economy that has consumers willing to spend their hard-earned money on the things they desire, even if it’s more expensive than it was a few years ago. This has proven to be true in several sectors, whether retail, travel or even housing, the most expensive purchase most people will ever make in their lives.
In the Twin Cities region, for the week ending June 29:
- New Listings increased 0.4% to 1,878
- Pending Sales decreased 5.0% to 1,498
- Inventory decreased 0.3% to 12,083
For the month of May:
- Median Sales Price increased 5.2% to $285,000
- Days on Market decreased 4.3% to 45
- Percent of Original List Price Received decreased 0.2% to 100.0%
- Months Supply of Homes For Sale increased 4.3% to 2.4
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Level Out
July 3, 2019
We’re seeing a tug of war happen as the fixed income market flashes warning signs while the equities market continues to march higher with optimism. The data suggests the economy is weakening but is still on very solid ground with high consumer confidence and a strong labor market. Closer to home, the housing market continues to slowly improve and gain momentum as we head into the second half of the year, which is good news and should keep the economy growing.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
Weekly Market Report
Persistently low mortgage rates and slower price increases have combined with economic growth, low unemployment, wage improvement and consumer confidence to keep home buyers in the market, despite insufficient supply. Builders have not made enough new homes for several years, and, thus, national housing inventory is extremely tight. The vacancy rate for owner-occupied homes in 2018 was the lowest since 1995. If the economy begins to slow, this situation is unlikely to improve.
In the Twin Cities region, for the week ending June 22:
- New Listings increased 1.9% to 2,028
- Pending Sales increased 1.2% to 1,494
- Inventory increased 1.1% to 12,008
For the month of May:
- Median Sales Price increased 5.2% to $285,000
- Days on Market decreased 4.3% to 45
- Percent of Original List Price Received decreased 0.2% to 100.0%
- Months Supply of Homes For Sale increased 4.3% to 2.4
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Drop
June 27, 2019
While the industrial and trade related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market. Through late June, home purchase applications improved by five percentage points compared to the previous month. In the near-term, we expect the housing market to continue to improve from both a sales and price perspective.
Information provided by Freddie Mac.
May Monthly Skinny Video
“While perhaps we won’t match the growth in the market seen over the last few years, stability and sustainability are the primary objectives.”
New Listings and Pending Sales
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