For Week Ending February 27, 2016

Strength in consumer spending and a towering peak in industrial production are both indicators that the economy has made strides early on in the year. Despite the continuing decline in inventory, the housing market should be a bright spot in the national economy.

In the Twin Cities region, for the week ending February 27:

• New Listings decreased 4.7% to 1,456
• Pending Sales increased 1.5% to 1,074
• Inventory decreased 17.8% to 11,056

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 20, 2016

The U.S. dollar is increasing in strength, and along with it, home sales from both domestic and foreign buyers. While homes currently on the market are performing well, housing starts have seen a slight drop since entering 2016.

In the Twin Cities region, for the week ending February 20:

• New Listings increased 5.0% to 1,428
• Pending Sales decreased 4.0% to 920
• Inventory decreased 19.4% to 10,774

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 13, 2016

Two central topics of conversation continue to be mortgage rates and the number of homes for sale. Turbulent financial markets have given way to even lower mortgage rates, bringing up the question of what will happen to rates as the year continues. Likewise, inventory has been on a general decline but supply should improve throughout the year.

In the Twin Cities region, for the week ending February 13:

• New Listings increased 9.0% to 1,411
• Pending Sales decreased 4.3% to 864
• Inventory decreased 21.3% to 10,440

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 6, 2016

The typical winter humdrum has hit the U.S. real estate market, with the same trends from late January continuing into February. Fewer home choices means less competition for sellers, and buyers are still in the housing game with federal rate hikes not anticipated to deter home buying in 2016, as mortgage rates are expected to stay low.

In the Twin Cities region, for the week ending February 6:

• New Listings decreased 17.6% to 1,235
• Pending Sales increased 3.4% to 890
• Inventory decreased 21.0% to 10,257

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1

All comparisons are to 2015

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