Category Archives: Weekly Report

Ye olde 2014 data will likely be retrospective analysis for the next few months, but 2015 is already stirring up rumors of potential trends as we charge into the new year. The buzzworthy hot topic, low interest rates, should keep bolstering home sales as it is speculated to become a friendlier market in the coming year for many types of buyers.

In the Twin Cities region, for the week ending January 3:

• New Listings decreased 18.6% to 551
• Pending Sales increased 9.1% to 553
• Inventory decreased 4.0% to 12,821

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.

It is typically during the final weeks of a calendar year when residential real estate activity hits its seasonal lows, even when some year-over-year comparisons show progress. Don’t be fooled by this time of year. Buyers and sellers are preparing for promising spring and summer markets. Of late, the spring market tends to get hopping before the -ary months are even complete.

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

• New Listings decreased 13.5% to 268
• Pending Sales decreased 9.8% to 359
• Inventory decreased 4.4% to 13,152

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2014

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

Even though interest rates remain low, there is talk of homeownership numbers being at 20-year lows. Tight lending restrictions may be partly to blame for the dip in the number of people flocking to buy a home. A turnover of the trend could be possible in the new year, but during the weeks surrounding the big winter holidays, we all tend to have to play the wait-and-see game.

In the Twin Cities region, for the week ending December 20:

• New Listings increased 6.1% to 592
• Pending Sales decreased 1.3% to 689
• Inventory decreased 4.4% to 13,698

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2013

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

We have reached the time of year when year-to-date and rolling 12-month time calculations become especially reliable. Buyer and seller activity continues at a decent clip, though generally lower than the spring and summer selling seasons. With the price of gasoline where it is, holiday spending should be strong, which benefits the economy and is, therefore, also good for housing. There’s plenty to be cheerful about this December.

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

• New Listings decreased 12.9% to 661
• Pending Sales increased 6.6% to 679
• Inventory decreased 2.7% to 14,268

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2013

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

Trendsetters in economic analysis have lately been choosing comparative figures between the present and 2007 as the must-have items of the season. Comparing recent data on unemployment, spending habits and housing starts to the vintage days of 2007 are opening up the conversation of the economy’s future. Recovery is in style and may even continue as we dive headlong into the heart of the winter months.

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

• New Listings decreased 4.4% to 849
• Pending Sales increased 5.7% to 815
• Inventory decreased 0.9% to 14,806

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 8.8% to 3.7

All comparisons are to 2013

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

No good news goes unpunished. As the economy churned out more than 320,000 private jobs in November, some say the Federal Reserve is that much more likely to stick to the plan of raising rates by mid-2015. The truth is that the U.S. is on track for the strongest yearly job growth since 1999. That means more families are in a better position to buy a home, which is of course good news for housing. Let’s take a look at the local housing market.

In the Twin Cities region, for the week ending November 29:

• New Listings decreased 13.5% to 468
• Pending Sales decreased 8.3% to 539
• Inventory increased 0.5% to 15,557

For the month of November:

• Median Sales Price increased 5.1% to $205,000
• Days on Market increased 5.3% to 79
• Percent of Original List Price Received decreased 0.7% to 94.7%
• Months Supply of Inventory increased 5.9% to 3.6

All comparisons are to 2013

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

Amidst frantic shopping for all the things between turkey and toys, the economy has made a surprising statement, offering big gains over the last six months not seen since mid-2003. As we head into the final stretch of the fourth quarter, mortgage rates remain fairly stable, with the 30-year fixed rate mortgage still hovering below 4 percent.

In the Twin Cities region, for the week ending November 22:

• New Listings decreased 3.5% to 862
• Pending Sales decreased 2.7% to 802
• Inventory increased 1.6% to 16,122

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

All comparisons are to 2013

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

Consumers are already starting to lean toward 2015, so let’s look ahead ourselves before we hit the weekly tabulations. With virtually no inflation to speak of, interest rates should remain low for the foreseeable future but could flirt with 5.0 percent toward the end of next year. Both new and existing inventory levels should rise – which is more of a continuation than a new development for many communities. Prices are also expected to increase but not by much, which should help first-time buyers. Job growth is likely to continue, and wage growth is expected to pick up.

In the Twin Cities region, for the week ending November 15:

• New Listings decreased 14.5% to 857
• Pending Sales decreased 1.6% to 749
• Inventory increased 3.5% to 16,692

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

All comparisons are to 2013

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

As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm.

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

• New Listings decreased 2.8% to 1,104
• Pending Sales increased 2.0% to 826
• Inventory increased 4.1% to 16,972

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

All comparisons are to 2013

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

As many markets begin to prepare for colder weather or festive family gatherings, a familiar seasonal slowing will begin to creep into the weekly numbers. Yet housing activity can be expected to float along at a seasonally healthy pace like a fallen leaf on a lazy river. With no big, negative economic news on the horizon, reliable sales, price and inventory figures, though not flashy, are quite welcome.

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

• New Listings decreased 9.2% to 1,076
• Pending Sales decreased 6.2% to 940
• Inventory increased 5.7% to 17,760

For the month of October:

• Median Sales Price increased 7.2% to $209,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 10.8% to 4.1

All comparisons are to 2013

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