For Week Ending August 29, 2015

The stock market has been experiencing a bit of a tizzy of late, but that does not seem to have had huge ramifications for housing. The Mortgage Bankers Association recently reported that mortgage applications and refinancing have both been on the rise, likely in order to get ahead of an expected rate hike by the Federal Reserve. While stock market flux can have undesirable ripples throughout the economy, it appears that housing has remained relatively untouched for the time being.

In the Twin Cities region, for the week ending August 29:

• New Listings increased 13.0% to 1,534
• Pending Sales increased 8.3% to 1,171
• Inventory decreased 13.0% to 16,777

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 17.4% to 3.8

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending August 22, 2015

In numerous metropolitan markets across the country, the S&P/Case–Shiller Home Price Index has indicated that home prices have risen during summer, confirming the trends evident by examining MLS data. That’s no surprise from month to month, but it’s also true in year-over-year comparisons. As ideal summer weather diverges toward autumn, we will begin to see some seasonal relaxation, but the market should still look positive when compared to last year. It’s been another good year for residential real estate, and that is expected to continue.

In the Twin Cities region, for the week ending August 22:

• New Listings decreased 3.1% to 1,490
• Pending Sales increased 5.8% to 1,235
• Inventory decreased 12.4% to 16,992

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 19.6% to 3.7

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.