Inventory
Author Archives: Pat Delaney
Weekly Market Report
Holiday decorations have debuted in department stores across the nation (really?), and their mere presence just might affect housing activity for those prone to a good winter hunker. Comparisons to year-ago levels will show improvement and recovery, even as general activity will likely slow through the rest of 2013. With rates seemingly in a continuous go-low zone, the thrifty buyer and willing seller will still meet for transactional tea.
In the Twin Cities region, for the week ending October 26:
- New Listings increased 16.4% to 1,209
- Pending Sales increased 10.4% to 974
- Inventory decreased 3.1% to 16,211
For the month of September:
- Median Sales Price increased 11.7% to $195,000
- Days on Market decreased 29.7% to 71
- Percent of Original List Price Received increased 1.7% to 96.4%
- Months Supply of Inventory decreased 14.0% to 3.7
All comparisons are to 2012
Click here for the full Weekly Market Activity Report.From The Skinny.
Mortgage Rates Dip Further
Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results released Oct. 31 show average fixed mortgage rates declining for the second consecutive week amid recent data showing softening in the housing market. Fixed mortgage rates are at their lowest levels since June.
New Listings and Pending Sales
Inventory
Weekly Market Report
Nationally, we are starting to see some of the impact of the government shutdown on the housing market. Applications for government mortgage products dropped to the lowest level since 2007, according to a release from the Mortgage Banker’s Association. This was while overall applications were up marginally. Most FHA lenders were able to process loans while Veterans Administration loans were slowed considerably and USDA Rural Development financing was cut off entirely. That said, there was still plenty of activity locally, much of it positive.
In the Twin Cities region, for the week ending October 19:
- New Listings increased 16.3% to 1,291
- Pending Sales decreased 11.4% to 867
- Inventory decreased 3.9% to 16,275
For the month of September:
- Median Sales Price increased 11.7% to $195,000
- Days on Market decreased 29.7% to 71
- Percent of Original List Price Received increased 1.8% to 96.5%
- Months Supply of Inventory decreased 14.0% to 3.7
All comparisons are to 2012
Click here for the full Weekly Market Activity Report.From The Skinny.
Mortgage Rates Hit Four-Month Low
The Oct. 24 release of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results shows average fixed mortgage rates hitting their lowest levels since this summer, amid market speculation that the Federal Reserve will not alter its bond buying purchases this year.
New Listings and Pending Sales
Inventory
Existing Home Sales
