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New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 7, 2016
Although higher than they were a year ago, mortgage applications are barely moving from week to week despite mortgage rates sitting at three-year lows. Supply remains lean across the country, and sales figures are showing some of the strain of that reality. Homes that show well continue to sell quickly and at prices that make sellers smile.
In the Twin Cities region, for the week ending May 7:
- New Listings increased 4.8% to 2,212
- Pending Sales increased 3.3% to 1,555
- Inventory decreased 19.4% to 13,011
For the month of April:
- Median Sales Price increased 7.8% to $231,750
- Days on Market decreased 14.1% to 73
- Percent of Original List Price Received increased 1.0% to 98.0%
- Months Supply of Inventory decreased 25.0% to 2.7
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage Rates Reach New 2016 Lows
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending April 30, 2016
The home-purchasing season may get a bit competitive this year thanks to low mortgage rates and pent up demand. With pending sales on the rise in many markets combined with a relatively low number of homes for sale, buyers need to act quickly once they find their ideal home.
In the Twin Cities region, for the week ending April 30:
- New Listings decreased 8.8% to 1,869
- Pending Sales increased 5.2% to 1,584
- Inventory decreased 18.7% to 12,966
For the month of April:
- Median Sales Price increased 7.7% to $231,500
- Days on Market decreased 14.1% to 73
- Percent of Original List Price Received increased 1.0% to 98.0%
- Months Supply of Inventory decreased 27.8% to 2.6
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage Rates Falter
The Fed’s decision to stand pat followed by a week of assorted unsettling news drove Treasury yields lower. As a consequence, the 30-year mortgage rate drifted down to 3.61 percent, just 3 basis points above the low for the year. Since the start of February, mortgage rates have varied within a narrow range providing an extended period for house hunters to take advantage of historically low rates.
New Listings and Pending Sales
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