Category Archives: Weekly Report

In the buildup of anticipation for the season of pumpkin carving, caramel apple eating and haunted house touring, it came out that one number was spookily down. Homeownership is at its lowest point in 20 years and has been steadily dropping since the housing bubble years from 2004 to 2006. Interestingly, we are now at levels consistent with a healthy market. Also, rising rents should eventually give cause to more households seeking ownership positions. So-called bad news is good, especially in the dark days surrounding Halloween.

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

• New Listings increased 4.5% to 1,267
• Pending Sales decreased 10.4% to 861
• Inventory increased 5.5% to 17,894

For the month of September:

• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

Rising home prices and continued housing stability continue to lure new listings
and keep inventory at a comfortable level. Although things like student debt and
lethargic wage growth may provide some obstacles for first-time home buyers,
those on the hunt for homes are still graced by relatively low inflation and low
mortgage rates. The seasonal slows may settle in soon, but the market remains
mostly content.

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

• New Listings increased 1.6% to 1,310
• Pending Sales increased 5.1% to 912
• Inventory increased 6.1% to 18,094

For the month of September:

• Median Sales Price increased 5.1% to $204,999
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

As we turn toward the final and typically quietest quarter of the year, it is easy to wonder if we are destined to lose the stability that we have worked hard for throughout the U.S. However, gloomy considerations are readily put aside after considering a recent investigation by the International Monetary Fund into the real estate markets of other countries. It turns out that our national housing price-to- income ratio is fairly conservative. At this rate, we will soon stop talking about the process of housing recovery and just call it recovered.

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

• New Listings decreased 6.6% to 1,423
• Pending Sales increased 6.8% to 955
• Inventory increased 7.5% to 18,178

For the month of September:

• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

Every story needs a hero, and housing’s current starlet is (drum roll, please) inventory. More markets continue to see increases in homes for sale, giving buyers more options and keeping prices from trying to overshadow the popularity of inventory with unsustainable stardom. As autumnal extracurriculars pick up and department store decorations trend towards the mustard palate, sales may drop off some, but the subplots of normalization and stabilization should remain popular with year-over-year inventory increases in the leading role.

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

• New Listings decreased 3.8% to 1,477
• Pending Sales increased 1.7% to 1,063
• Inventory increased 10.9% to 18,696

For the month of September:

• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

With the exciting sales pace of summer behind us, and focus now shifting inward toward family, school and other interests for many Americans, the numbers will start to dip in most markets. Seasonal shifts can be a drag, but it can also mean opportunity. Bargain hunters, first-time buyers, empty nesters, investors and younger buyers with no school-aged children are among the crowd that are not necessarily framed by the summer months. New construction is inching upwards, and the national unemployment rate dropped below 6.0 to 5.9 for the first time since 2008, so there’s still plenty of rosy attitude in a balanced market.

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

• New Listings decreased 1.3% to 1,431
• Pending Sales decreased 14.5% to 945
• Inventory increased 10.0% to 18,753

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

The season of crisp leaves, autumn colors and, yes, pumpkin spice lattes is upon us. Just in time for the fall equinox, mortgage applications have risen according to the Mortgage Bankers Association. Though the season will likely slow things considerably in some areas, it seems that buyers are not quite ready to succumb to the cinnamon haze that is fall just yet.

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

• New Listings increased 10.3% to 1,621
• Pending Sales decreased 5.0% to 930
• Inventory increased 9.4% to 18,644

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

As September deepens, a certain level of seasonal housing market cooling is bound to occur, but year-over-year trends do not seem poised to offend. Overheated and undercooked markets might make pretty for media outlets, yet a balanced market is the best friend of the buyer, the seller and, frankly, the real estate practitioner. Seasonal dips are nothing to fret over. It is now and will continue to be best to measure residential real estate activity not by months but by years.

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

• New Listings increased 1.6% to 1,650
• Pending Sales decreased 1.0% to 993
• Inventory increased 9.5% to 18,513

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

Normalization is the word of the day when describing real estate markets these days. Market recovery has taken hold in most parts of the nation, and as those markets approach prior peaks, price growth may come in line with more normal historical levels. In the short-term, this may mean some metrics exhibit year-over- year declines, but the long-term trend is still higher. While everyone is entitled to their theories, the slow-but-steady path we’ve seen in recent months is beginning to match a pattern we have seen for decades.

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

• New Listings increased 9.0% to 1,653
• Pending Sales increased 1.4% to 879
• Inventory increased 9.7% to 18,320

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

The Bureau of Labor Statistics reported in August that total nonfarm payroll employment increased by more than 200,000 in July, and the national unemployment level is holding relatively steady at 6.2 percent. Combined with a reported increase in consumer confidence by Reuters, the U.S. economy is looking pretty spiffy. So long as quality paying jobs continue to be added to the mix and housing policy remains welcoming to those who want to buy and sell, there is reason to remain optimistic about residential real estate.

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

• New Listings increased 0.6% to 1,365
• Pending Sales decreased 10.8% to 1,087
• Inventory increased 9.9% to 18,627

For the month of August:

• Median Sales Price increased 5.3% to $219,001
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.8% to 96.2%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

As summer begins to wane, the total number of home sales will gradually drop like the leaves of fall. And although autumn is nearing, that doesn’t necessarily mean that the changing of the season will bring market chills. Because even as sales drop, sales prices are still mostly on the rise and inventory is stabilizing all across the country. And let’s not forget that lower sales figures are also due to fewer distressed properties on the market.

In the Twin Cities region, for the week ending August 23:

• New Listings increased 3.5% to 1,539
• Pending Sales increased 4.5% to 1,175
• Inventory increased 10.1% to 18,755

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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