Freddie Mac’s December 10 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows the average 30-year fixed mortgage rate ticking slightly higher on a better than expected November employment report.
Mortgage Rates Up Slightly
Author Archives: Pat Delaney
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending November 28, 2015
The real estate market tends to hit its slowest moments right around the Thanksgiving holiday, continuing through to the end of the year before bouncing back with renewed resolutionary enthusiasm. The trends aren’t expected to change too much in year-over-year comparisons to what we have seen over the last several weeks. For this week, listings and sales are up.
In the Twin Cities region, for the week ending November 28:
- New Listings increased 15.0% to 538
- Pending Sales increased 15.7% to 635
- Inventory decreased 16.7% to 13,698
For the month of October:
- Median Sales Price increased 3.9% to $216,000
- Days on Market decreased 2.8% to 70
- Percent of Original List Price Received increased 0.9% to 96.1%
- Months Supply of Inventory decreased 25.6% to 3.2
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage Rates Down for Third Straight Week
The December 3 release of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results shows the average 30-year fixed mortgage rate declining for the third consecutive week on disappointing manufacturing data.
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending November 21, 2015
We’re still looking at better-than-expected new listing and sales activity in most markets across the country, while overall inventory and months’ supply of inventory remains down. While the addition of new listings and an increase in sales activity will not always be up in year-over-year comparisons on a weekly basis, the trend has remained rather optimistic into the year-end months that typically see a slowness in residential real estate activity. Anecdotally, this feels like a response to the inevitable rate hike that is coming before 2015 is complete.
In the Twin Cities region, for the week ending November 21:
- New Listings decreased 0.3% to 855
- Pending Sales increased 4.2% to 823
- Inventory decreased 16.2% to 14,207
For the month of October:
- Median Sales Price increased 3.9% to $216,000
- Days on Market decreased 2.8% to 70
- Percent of Original List Price Received increased 0.9% to 96.1%
- Months Supply of Inventory decreased 25.6% to 3.2
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage Rate Declines Slightly
The November 25 release of the results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) shows the average 30-year fixed mortgage rate declining slightly leading up to the Thanksgiving holiday. The average 30-year fixed rate mortgage hasn’t risen above 4 percent since the week of July 23rd of this year, which is helping homebuyer affordability in the face of rising house prices due to low levels of inventory in many markets.