Category Archives: Weekly Report

For Week Ending March 14, 2015

Have rents gone up enough to get renters to lean toward homeownership again? That’s the question of the moment. With mortgage rates remaining low, the time may be ripe for renters to invest in something beyond a 12-month lease as rental affordability is beginning to border on unaffordability.

In the Twin Cities region, for the week ending March 14:

• New Listings increased 20.6% to 1,765
• Pending Sales increased 14.3% to 1,040
• Inventory increased 1.4% to 13,523

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 7, 2015

Many residential real estate markets across the country and locally are in a fairly stable state of balance, causing most stories about housing to be conservative in nature with not much change to report. As the weather continues to warm up across the country, more sales are expected.

In the Twin Cities region, for the week ending March 7:

• New Listings increased 31.7% to 1,915
• Pending Sales increased 34.1% to 1,098
• Inventory increased 0.3% to 13,018

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending February 28, 2015

Across the country, some Fortune 500 companies have been raising their
minimum wage. How does this correlate to the housing industry? Mo’ money =
mo’ house-buying powerz. Coupled with the dismantled idea that aging
millennials want to remain at home forever (because, come on, really?), the
housing market is making inroads into two factors that have plagued the buyer
market in recent years. Warmer weather sure can’t hurt either.

In the Twin Cities region, for the week ending February 28:

• New Listings increased 23.0% to 1,532
• Pending Sales increased 21.0% to 1,076
• Inventory decreased 2.2% to 12,690

For the month of February:

• Median Sales Price increased 10.4% to $202,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 3.0

All comparisons are to 2014

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

For Week Ending February 21, 2015

Rumors that Fannie Mae and Freddie Mac could one day be a thing of the past have people wondering about the future of the 30-year fixed-rate mortgage. But let’s not sound the alarm just yet. A drastic change to lending’s gold standard is certainly not on the immediate horizon. Meanwhile, Federal Reserve Chair Janet Yellen seems to have no immediate interest in raising interest rates for the first time since 2006. The economy remains stable for the time being, which should keep housing rolling through the short-named months.

In the Twin Cities region, for the week ending February 21:

• New Listings increased 29.8% to 1,365
• Pending Sales increased 36.4% to 981
• Inventory decreased 3.0% to 12,570

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory increased 3.4% to 3.0

All comparisons are to 2014

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

For Week Ending February 14, 2015

As we hit February, mortgage rates continue to remain low, bringing about a high dosage of optimism to the market. While some reports attempt to dissect drops in builder confidence with a negative-bent attitude, low rates seem prepped to steer potential buyers toward getting their own set of house keys, curbing the pessimism of market naysayers.

In the Twin Cities region, for the week ending February 14:

• New Listings increased 12.1% to 1,298
• Pending Sales increased 15.6% to 920
• Inventory decreased 3.7% to 12,410

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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

For Week Ending February 7, 2015

Nationally, housing starts are off to a good start in 2015, with new projects ahead of last year at this time. Before the confetti cannons come out, this doesn’t necessarily mean that sellers can start asking more and that buyers will immediately have more to choose from. But this does bode well for increased confidence throughout the residential real estate marketplace. Balance means a lighter ebb and flow of various market metrics rather than astronomical gains and losses. This is positive.

In the Twin Cities region, for the week ending February 7:

• New Listings increased 25.4% to 1,496
• Pending Sales increased 14.3% to 881
• Inventory decreased 5.1% to 12,104

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 8.6% to 101
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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

The U.S. economy continues on its journey upward. Not only have gas prices hit multi-year lows, but wages have experienced gains not seen since 2008. As the year picks up steam, and whether you hang out with the bears or bulls of market recovery prognostication (not Chicago sports teams), one cannot deny that the economy is in a more stable position than it has been in years.

In the Twin Cities region, for the week ending January 31:

• New Listings increased 8.5% to 1,012
• Pending Sales increased 16.0% to 886
• Inventory decreased 5.6% to 12,202

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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

Up, down and all around, mortgage rates and regulations will likely be hot topics this year. Rates should stay low through 2015, but consumers and finance experts believe we’re at or near rate bottoms. The implication of low rates should be that more people will be able to reach homeownership status in the coming year, but it will be interesting to see if regulatory standards loosen up or tighten further based on buyer demand.

In the Twin Cities region, for the week ending January 24:

• New Listings increased 15.8% to 1,058
• Pending Sales increased 3.1% to 675
• Inventory decreased 6.4% to 12,149

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory increased 3.4% to 3.0

All comparisons are to 2014

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

New Year’s resolutions may have already faded out, but the housing market is just getting started. Even though it may take a while for new trends to emerge, the housing crisis that was a bear a few years ago has been making mostly positive gains as of late. The common thought is that this will be another year of recovery and further stabilization. Onward and upward it is.

In the Twin Cities region, for the week ending January 17:

• New Listings increased 8.3% to 1,073
• Pending Sales increased 14.6% to 668
• Inventory decreased 6.8% to 12,027

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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

Some goodbyes are easier than others. As we bid farewell to the economic uncertainties of 2014, all eyes are fixated on what 2015 might bring. The economy – specifically job growth – picked up steam in the second half of the year, and that should continue. Housing performed reasonably well, but some metrics didn’t improve as much as in 2013. The new year should bring new listings, new inventory and new buyers to the marketplace.

In the Twin Cities region, for the week ending January 10:

• New Listings increased 7.1% to 1,030
• Pending Sales increased 17.8% to 642
• Inventory decreased 6.1% to 11,999

For the month of December:

• Median Sales Price increased 5.2% to $200,000
• Days on Market increased 3.5% to 89
• Percent of Original List Price Received decreased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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