New Listings and Pending Sales
Author Archives: Pat Delaney
Inventory
Weekly Market Report
Consumer confidence, prices, sales and percent of list price received at sale are all generally on the ups. This has been a nice place to be for real estate practitioners. In terms of expecting the unexpected trends, economists suggest tuning into indicators such as jobs, stocks and Federal Reserve policy decisions. The keen industry professional deserves the most up-to-date stats for daily decision making. Read on for this week’s deserved sneak peek.
In the Twin Cities region, for the week ending June 22:
- New Listings increased 28.9% to 1,797
- Pending Sales increased 14.1% to 1,214
- Inventory decreased 18.2% to 15,195
For the month of May:
- Median Sales Price increased 14.8% to $194,000
- Days on Market decreased 29.8% to 87
- Percent of Original List Price Received increased 2.5% to 97.0%
- Months Supply of Inventory decreased 30.6% to 3.4
Click here for the full Weekly Market Activity Report.From The Skinny.
Mortgage Rates Jump Up
Freddie Mac’s June 27 release of results of its Primary Mortgage Market Survey® (PMMS®) shows average fixed mortgage rates jumping along with bond yields amid recent Fed remarks that it could begin tapering its bond purchases later this year. The average 30-year fixed-rate mortgage rose from 3.93 percent last week to 4.46 percent this week; the highest it has been since the week of July 28, 2011. This represents the largest weekly increase for the 30-year fixed since the week ended April 17, 1987.
Existing Home Sales
June Monthly Skinny Video
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Video produced by Chelsie Lopez.
Mortgage Rates Dip a Bit
The June 20 release of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results shows fixed mortgage rates declining slightly after six weeks of steady climb.
New Listings and Pending Sales
Inventory
Weekly Market Report
Sellers are finally starting to catch up with strong buyer demand, but at the rate that homes are being snatched up, the influx of new listings will need to be more than a short-term addition. Rising home prices, fewer days on market and more homes being sold all support a positive public opinion about real estate. The following local stats should shed invaluable quantitative support for that warm fuzzy feeling residential real estate is handing out.
In the Twin Cities region, for the week ending June 8:
- New Listings increased 23.2% to 1,951
- Pending Sales increased 12.0% to 1,329
- Inventory decreased 21.7% to 14,569
For the month of May:
- Median Sales Price increased 14.8% to $194,000
- Days on Market decreased 29.8% to 87
- Percent of Original List Price Received increased 2.5% to 97.0%
- Months Supply of Inventory decreased 30.6% to 3.4
Click here for the full Weekly Market Activity Report.From The Skinny.