May 16, 2019
Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve. While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth and five-decade low unemployment rates, which will drive up home sales this summer.
Information provided by Freddie Mac.
For Week Ending May 4, 2019
The national chatter over the past couple of weeks has been about royal babies, exciting NBA and NHL playoff games, heightened talk of higher tariffs for China, lackluster tech IPOs and, of course, who will sit on the Iron Throne. Mixed in with those conversations have been thousands of discussions about the housing market at coffee shops, over backyard fences and at real estate industry conventions. The selling season is upon us, and homes are moving quickly.
In the Twin Cities region, for the week ending May 4:
For the month of March:
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
May 9, 2019
Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease. A combination of low mortgage rates, a strong job market and modest wage growth should spur homebuyer interest and also serve as an incentive for homeowners looking to refinance.
:
Information provided by Freddie Mac.
For Week Ending April 27, 2019
The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.
In the Twin Cities region, for the week ending April 27:
For the month of March:
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
May 2, 2019
Slightly weaker inflation and labor economic data caused mortgage rates to dip this week. Moving into summer, we expect rates to be about a quarter to half a percentage point lower than where they were last year, which is good news for the housing market. These lower rates combined with solid economic growth, low inflation and rebounding consumer confidence should provide a solid foundation for home sales to continue to improve over the next couple of months.
Information provided by Freddie Mac.
For Week Ending April 20, 2019
Despite one of the latest snowfalls in recent memory in places like North Dakota, Idaho, Colorado, Wisconsin and Illinois, among other Western and Midwestern states, house hunters in these locales and other warmer places do not seem particularly phased by wintry or wet weather. The spring market has sprung, and new listings are pressing upward with more frequency in several markets. Sales remain lower than last year in much of the country. Here is how the local market is faring.
In the Twin Cities region, for the week ending April 20:
For the month of March:
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.