Monday, October 8th, 2018

For Week Ending September 29, 2018

The U.S. unemployment rate recently dropped to 3.7 percent, which is its lowest mark since December 1969. The economy continues to bear impressive fruit within and outside of residential real estate, and the Federal Reserve has reacted by raising the benchmark federal funds rate by a quarter of a percentage point, the third rate hike of 2018. While this may be undesirable news for those carrying high credit debt, it is also a reflection of a bright economic outlook.

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

  • New Listings increased 15.0% to 1,592
  • Pending Sales decreased 6.3% to 1,123
  • Inventory decreased 4.7% to 12,653

For the month of August:

  • Median Sales Price increased 6.3% to $268,000
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.7% to 99.2%
  • Months Supply of Inventory remained flat at 2.6

All comparisons are to 2017

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

Posted in Weekly Report |
Monday, October 8th, 2018

For Week Ending September 29, 2018

The U.S. unemployment rate recently dropped to 3.7 percent, which is its lowest mark since December 1969. The economy continues to bear impressive fruit within and outside of residential real estate, and the Federal Reserve has reacted by raising the benchmark federal funds rate by a quarter of a percentage point, the third rate hike of 2018. While this may be undesirable news for those carrying high credit debt, it is also a reflection of a bright economic outlook.

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

  • New Listings increased 15.0% to 1,592
  • Pending Sales decreased 6.3% to 1,123
  • Inventory decreased 4.7% to 12,653

For the month of August:

  • Median Sales Price increased 6.3% to $268,000
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.7% to 99.2%
  • Months Supply of Inventory remained flat at 2.6

All comparisons are to 2017

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

Posted in Weekly Report |
Monday, October 1st, 2018

For Week Ending September 22, 2018

Seven years ago, FICO conducted a survey of bankers that concluded that home prices would not recover until 2020. While roughly one million people are still considered underwater in terms of home value, many people would consider the housing industry to not only be fully recovered but flying forward toward unprecedented price points. While high prices may soon begin to turn buyers off, it will be interesting to see if there is a measurable slowdown in real estate activity versus a natural shift to balanced prices.

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

  • New Listings increased 6.1% to 1,555
  • Pending Sales increased 3.0% to 1,156
  • Inventory decreased 5.3% to 12,632

For the month of August:

  • Median Sales Price increased 6.3% to $268,000
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.7% to 99.2%
  • Months Supply of Inventory decreased 3.8% to 2.5

All comparisons are to 2017

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

Posted in Weekly Report |
Thursday, September 27th, 2018

“Sales were up compared to last year”

Posted in Monthly Skinny Video |
Monday, September 24th, 2018

For Week Ending September 15, 2018

The kids are tucked into schools, harvest festivals and fall equinox parties are underway, and residential real estate markets are entering a new season with strong fundamentals and healthy levels of activity. While it is sensible to monitor reputable news sources that report on housing with respectable statistics to back claims, it is also important to stay grounded in the reality that we continue to enjoy a prosperous time in real estate.

In the Twin Cities region, for the week ending September 15:

  • New Listings increased 19.5% to 1,836
  • Pending Sales increased 4.8% to 1,195
  • Inventory decreased 6.3% to 12,475

For the month of August:

  • Median Sales Price increased 6.3% to $268,000
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.7% to 99.2%
  • Months Supply of Inventory decreased 3.8% to 2.5

All comparisons are to 2017

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

Posted in Weekly Report |

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