Monday, January 13th, 2020

For Week Ending January 4, 2020

With the start of the New Year, the real estate market turns more active across mostof the country. Sellers connect with agents, resulting in a pop of new listings, followed by renewed interest by buyers, which leads to an increase in pending sales. This pattern is seen every year and 2020 should be no different. We’re starting off the year with continued low interest rates, low unemployment, and rising rents nationally. This sets us up for a strong start to 2020 and plenty of optimism for the coming spring market.

In the Twin Cities region, for the week ending January 4:

  • New Listings decreased 17.9% to 683
  • Pending Sales decreased 7.0% to 546
  • Inventory decreased 12.8% to 8,064

For the month of November:

  • Median Sales Price increased 5.6% to $279,900
  • Days on Market decreased 1.9% to 51
  • Percent of Original List Price Received increased 0.2% to 97.5%
  • Months Supply of Homes For Sale decreased 4.5% to 2.1

All comparisons are to 2019
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, January 6th, 2020

For Week Ending December 28, 2019

Data from the Census Bureau’s Survey of Construction (SOC) and the National Association of Home Builders shows that 62.5 percent of all new construction homes started in 2018 were built as part of a community or homeowner’s association, up from 47.6% in 2009. These associations are typically created when the developments are built to maintain common areas of the developments and to enforce private deed restrictions, which often detail requirements for the exterior appearance and upkeep of properties.

In the Twin Cities region, for the week ending December 28:

  • New Listings decreased 15.6% to 259
  • Pending Sales decreased 3.7% to 495
  • Inventory decreased 14.0% to 8,354

For the month of November:

  • Median Sales Price increased 5.6% to $279,900
  • Days on Market decreased 1.9% to 51
  • Percent of Original List Price Received increased 0.2% to 97.5%
  • Months Supply of Homes For Sale decreased 4.5% to 2.1

All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, December 30th, 2019

For Week Ending December 21, 2019

As we close out the last weeks of the year, both buyers and sellers turn their focus from the transacting of homes to preparations for celebrating the holidays with their family and friends. Renewed interest by both buyers and sellers will come in the New Year and with it, the expectations for a strong housing market in 2020.

In the Twin Cities region, for the week ending December 21:

  • New Listings increased 6.1% to 524
  • Pending Sales decreased 1.3% to 706
  • Inventory decreased 13.1% to 8,805

For the month of November:

  • Median Sales Price increased 5.6% to $279,900
  • Days on Market decreased 1.9% to 51
  • Percent of Original List Price Received increased 0.2% to 97.5%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, December 30th, 2019

Prices increased in year-over-year comparisons, and this will likely remain the case for the rest of the year.

Posted in Monthly Skinny Video |
Monday, December 23rd, 2019

For Week Ending December 14, 2019

This week the Federal Reserve, in its final meeting of the year, voted to leave its key benchmark rate unchanged, which was widely expected. The Fed also suggested that rate changes are unlikely in the coming months. While the rate decisions by the Federal Reserve do not directly affect mortgage rates, Federal Reserve policy does affect the economic markets overall. While mortgage rates have trended up slightly in recent weeks, they remain nearly one percent lower than a year ago. Fed Chair Jerome Powell was upbeat on the economy going forward: “with a strong household sector and supportive monetary and financial conditions, we expect moderate growth to continue.”

In the Twin Cities region, for the week ending December 14:

  • New Listings decreased 4.1% to 696
  • Pending Sales decreased 0.5% to 744
  • Inventory decreased 10.0% to 9,399

For the month of November:

  • Median Sales Price increased 5.6% to $279,900
  • Days on Market decreased 1.9% to 51
  • Percent of Original List Price Received increased 0.2% to 97.5%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |