Category Archives: Weekly Report

For Week Ending August 8, 2015

That time of year is here for some and on its way for others: School. The summer’s fun is winding down. Perceived as good for some weary parents, bad for some summer-loving kids and standard fare for real estate professionals that know August as a quiet identifier of the expectation of housing market slowdown. That said, home sales and housing prices have both continued to edge up across the country on a macro level compared to last year’s numbers. Let’s take a look at the local trends.

In the Twin Cities region, for the week ending August 8:

• New Listings decreased 2.8% to 1,746
• Pending Sales increased 13.5% to 1,293
• Inventory decreased 11.0% to 17,038

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 19.6% to 3.7

All comparisons are to 2014

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

For Week Ending August 1, 2015

According to a recent study, housing starts are expected to be slightly over a million for the U.S. in 2015, with more than half of those being single-family homes. New home sales are expected to increase by at least 20 percent compared to last year. An increase in housing starts hints at a state of homeostasis for the residential real estate market. More homes means more choices for buyers, from first-timers to upgraders.

In the Twin Cities region, for the week ending August 1:

• New Listings decreased 8.1% to 1,665
• Pending Sales increased 14.3% to 1,341
• Inventory decreased 10.1% to 17,183

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 19.6% to 3.7

All comparisons are to 2014

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

For Week Ending July 25, 2015

According to the U.S. Census, homeownership is at 63.4 percent for the second quarter of 2015, down 1.3 percent from the second quarter of 2014. This is the lowest rate of homeownership since 1967. To put that in greater context, homeownership peaked at 69.2 percent in 2004, and the 50-year average is 65.3 percent. Although the data may be indicating otherwise on a macro level, mortgage applications have kept REALTORS® busy through summer.

In the Twin Cities region, for the week ending July 25:

• New Listings increased 1.2% to 1,804
• Pending Sales increased 21.3% to 1,362
• Inventory decreased 9.8% to 17,125

For the month of June:

• Median Sales Price increased 4.7% to $229,900
• Days on Market decreased 5.7% to 66
• Percent of Original List Price Received increased 0.5% to 97.7%
• Months Supply of Inventory decreased 15.9% to 3.7

All comparisons are to 2014

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

For Week Ending July 18, 2015

Let’s try to never forget how bad the U.S. housing market got. The Great Recession lasted from about December 2007 to June 2009. Ever since then, and particularly in the last couple of years, the market has strengthened to once again become a cornerstone in one of the strongest economies in the world. Better lending standards, low oil prices and higher wages are a few of the catalysts for positive change. As we tip into the second half of 2015, the trends still reveal stable housing in a stable economy.

In the Twin Cities region, for the week ending July 18:

• New Listings decreased 7.8% to 1,758
• Pending Sales increased 7.7% to 1,210
• Inventory decreased 9.1% to 16,973

For the month of June:

• Median Sales Price increased 4.7% to $229,900
• Days on Market decreased 5.7% to 66
• Percent of Original List Price Received increased 0.5% to 97.7%
• Months Supply of Inventory decreased 15.9% to 3.7

All comparisons are to 2014

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

For Week Ending July 11, 2015

With the economy on the ups these days, the Federal Reserve Chair, Janet Yellen, is predicting a fine-tuning of monetary policy by the end of the year. In tandem with the improving economy, the unemployment rate dropped by 0.2 percent to 5.3 percent for June 2015. It is widely believed that interest rates will go up before the year is over, which is a pretty clear indicator that the housing market is thrumming along at a good clip.

In the Twin Cities region, for the week ending July 11:

• New Listings increased 2.7% to 2,143
• Pending Sales increased 7.5% to 1,310
• Inventory decreased 9.0% to 16,655

For the month of June:

• Median Sales Price increased 4.7% to $229,900
• Days on Market decreased 5.7% to 66
• Percent of Original List Price Received increased 0.5% to 97.7%
• Months Supply of Inventory decreased 15.9% to 3.7

All comparisons are to 2014

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

For Week Ending July 4, 2015

As fireworks go boom, the boom of housing’s summer selling season tends to relax across the country, giving way to Facebook photos of families and friends at picnics and on road trips. Amidst the red, white and blue Instagram filters and patriotic Twitter profile pics, you’ll still likely see evidence of sales being made and articles about overall affordability. So take a quick break to play catch or chomp a hot dog, because the homeownership dream is alive and thriving this summer.

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

• New Listings increased 0.2% to 1,270
• Pending Sales increased 13.3% to 1,184
• Inventory decreased 7.5% to 16,940

For the month of June:

• Median Sales Price increased 4.7% to $229,900
• Days on Market decreased 5.7% to 66
• Percent of Original List Price Received increased 0.5% to 97.7%
• Months Supply of Inventory decreased 15.9% to 3.7

All comparisons are to 2014

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

For Week Ending June 27, 2015

Most markets in the U.S. should still be seeing that nice steady buzz of new listings and closed sales. The most opportune time of the year to get residential real estate business closed continues into the summer months. There will be an expected drop in activity around the Independence Day festivities and scheduled summer vacations, but it would not be shocking to see heightened activity in July and August in front of possible rate hikes later in the year.

In the Twin Cities region, for the week ending June 27:

• New Listings increased 1.3% to 1,861
• Pending Sales increased 20.0% to 1,462
• Inventory decreased 7.3% to 16,998

For the month of May:

• Median Sales Price increased 6.6% to $223,950
• Days on Market decreased 5.0% to 76
• Percent of Original List Price Received increased 0.7% to 97.5%
• Months Supply of Inventory decreased 9.8% to 3.7

All comparisons are to 2014

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

For Week Ending June 13, 2015

When Lewis and Clark looked over the horizon and saw the Pacific Ocean, they were charting the future while applying lessons learned on a long, historic journey. In the housing market, it is also important to look to the future with a nod to the past. The market has come a long way since the burst of 2008. May we always thank the past for teaching us how to pursue our futures. And may we always have a market interpreter as able and wise as Sacagawea.

In the Twin Cities region, for the week ending June 13:

• New Listings decreased 0.8% to 2,058
• Pending Sales increased 21.1% to 1,523
• Inventory decreased 6.0% to 16,512

For the month of May:

• Median Sales Price increased 6.7% to $224,000
• Days on Market decreased 5.0% to 76
• Percent of Original List Price Received increased 0.7% to 97.5%
• Months Supply of Inventory decreased 9.8% to 3.7

All comparisons are to 2014

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

For Week Ending June 6, 2015

As we approach the halfway point of the year, we’ll begin to see some midterm report cards from anyone who wants to share an opinion or write a headline. If you have been reading these weekly excerpts, you already know that we are tracking along a predicted path. The residential real estate market was expected to be good at this point. Hiring is up, unemployment is low, sales are up, rates are low, prices are up and inventory is low. The gentle sway of up and low is making for an enjoyable ride, with no bubbles in sight.

In the Twin Cities region, for the week ending June 6:

• New Listings increased 1.4% to 2,183
• Pending Sales increased 10.9% to 1,413
• Inventory decreased 5.2% to 16,253

For the month of May:

• Median Sales Price increased 6.7% to $224,000
• Days on Market decreased 5.0% to 76
• Percent of Original List Price Received increased 0.7% to 97.5%
• Months Supply of Inventory decreased 12.2% to 3.6

All comparisons are to 2014

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

For Week Ending May 30, 2015

As we get closer to the official calendar launch of summer, residential real estate is taking off. The market may seem slower than in past spring/summer sprints, but numbers are by no means dismal. Whether the buyer category is dominated by Millennial, Generation X or move-up buyers from previous generations is no matter; activity is happening.

In the Twin Cities region, for the week ending May 30:

• New Listings decreased 2.9% to 1,696
• Pending Sales increased 23.5% to 1,357
• Inventory decreased 4.6% to 16,202

For the month of May:

• Median Sales Price increased 6.7% to $224,000
• Days on Market decreased 5.0% to 76
• Percent of Original List Price Received increased 0.7% to 97.5%
• Months Supply of Inventory decreased 12.2% to 3.6

All comparisons are to 2014

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