Category Archives: Weekly Report

Fewer people are out scouting homes now that they’re scouting the perfect bird for their Thanksgiving feast. Weekly and monthly seller and buyer activity may be slowing in comparison to last reporting period, but overall markets still show signs of stable recovery. By and large, expect the end of 2013 to look just as juicy and golden as your bird is soon to be.

In the Twin Cities region, for the week ending November 9:

• New Listings increased 11.4% to 1,132
• Pending Sales decreased 3.1% to 819
• Inventory decreased 3.2% to 15,517

For the month of October:

• Median Sales Price increased 11.4% to $195,000
• Days on Market decreased 27.2% to 75
• Percent of Original List Price Received increased 1.4% to 95.8%
• Months Supply of Inventory decreased 12.5% to 3.5

All comparisons are to 2012

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

Most analysts agree that we are not in the midst of inflating another housing bubble. Instead, we are sometimes seeing seemingly dramatic price and sales increases, but off of artificially low baseline levels. Private equity firms and first-time buyers have bought up a lot of inventory, while some sellers await further price recovery. Credit remains available but not abundant, so lenders are avoiding the facilitation of another bubble. Default rates and foreclosure activity are at multiyear lows. As of now, the housing recovery is intact.

In the Twin Cities region, for the week ending November 2:

• New Listings increased 5.5% to 1,185
• Pending Sales increased 6.9% to 972
• Inventory decreased 2.6% to 16,034

For the month of October:

• Median Sales Price increased 11.4% to $195,000
• Days on Market decreased 27.2% to 75
• Percent of Original List Price Received increased 1.4% to 95.8%
• Months Supply of Inventory decreased 12.5% to 3.5

All comparisons are to 2012

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

Holiday decorations have debuted in department stores across the nation (really?), and their mere presence just might affect housing activity for those prone to a good winter hunker. Comparisons to year-ago levels will show improvement and recovery, even as general activity will likely slow through the rest of 2013. With rates seemingly in a continuous go-low zone, the thrifty buyer and willing seller will still meet for transactional tea.

In the Twin Cities region, for the week ending October 26:

• New Listings increased 16.4% to 1,209
• Pending Sales increased 10.4% to 974
• Inventory decreased 3.1% to 16,211

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.7% to 96.4%
• Months Supply of Inventory decreased 14.0% to 3.7

All comparisons are to 2012

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

Nationally, we are starting to see some of the impact of the government shutdown on the housing market. Applications for government mortgage products dropped to the lowest level since 2007, according to a release from the Mortgage Banker’s Association. This was while overall applications were up marginally. Most FHA lenders were able to process loans while Veterans Administration loans were slowed considerably and USDA Rural Development financing was cut off entirely. That said, there was still plenty of activity locally, much of it positive.

In the Twin Cities region, for the week ending October 19:

• New Listings increased 16.3% to 1,291
• Pending Sales decreased 11.4% to 867
• Inventory decreased 3.9% to 16,275

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 14.0% to 3.7

All comparisons are to 2012

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

As tricks and treats are planned, housing starts its preparation for a holiday season hibernation. Though activity hasn’t come to a complete halt – there are still year-over-year gains being posted for listings and prices – the liveliness of the summer months has started to slow. Keep watch on any movements from the Fed, on economic indicators outside of housing and on the legislative tug-of-war. Each may play a part in predicting how the rest of the fourth quarter of 2013 goes.

In the Twin Cities region, for the week ending October 12:

• New Listings increased 21.7% to 1,524
• Pending Sales decreased 2.7% to 892
• Inventory decreased 5.6% to 16,113

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 16.3% to 3.6

All comparisons are to 2012

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

Home price gains and housing demand are still a year-over-year improvement, but activity is beginning to moderate as the seasons change. With the possibility of further rate and price increases, some buyers are still motivated, but urgency tends to wane when holiday decorations start going up. Recovery continues, but the pace is stabilizing. Yet that’s a good thing, since harmful corrections usually follow when the market moves too far too fast.

In the Twin Cities region, for the week ending October 5:

• New Listings increased 17.9% to 1,536
• Pending Sales increased 2.4% to 1,037
• Inventory decreased 6.2% to 16,074

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 16.3% to 3.6

All comparisons are to 2012

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

Home prices are still rising and rates have increased incrementally. As the cement of market balance hardens, it has become more dependent on move-up and first- time home buyers. Even with tightened lending regulations, seller activity has broadened. The government shutdown should not have a major impact on national and local market housing recovery. But as we get deeper into the -ber months, it will be interesting to see if the year-over-year trends hold true, simply lessen in drama or give reason for pause.

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

• New Listings increased 10.3% to 1,449
• Pending Sales increased 12.2% to 1,106
• Inventory decreased 5.9% to 16,282

For the month of August:

• Median Sales Price increased 16.8% to $207,825
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 15.9% to 3.7

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

Higher interest rates, rising prices and a budget standoff in Washington haven’t shaken consumer sentiment regarding housing. Buyers continue to riffle through existing inventory for options, keeping an eye out for new listings. A sense of normalcy is returning to the real estate ethos after more than a decade of extreme ups and downs. It’s a big week for economic and housing news, so keep your eyes and ears tuned for any changing headlines.

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

• New Listings increased 13.3% to 1,469
• Pending Sales decreased 5.5% to 970
• Inventory decreased 6.8% to 16,249

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

For several weeks, markets across the country have seen consistent gains in sales, prices and percent of list price received at sale. Things like steadily low rates, less lender-mediated inventory and increased consumer confidence are all helping this reality. Each and every week reveals signs of a recovered market that are going from temporary yard sign to permanent road sign. Here’s to hoping for prosperous signs on the road ahead.

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

• New Listings increased 19.5% to 1,625
• Pending Sales increased 8.3% to 1,006
• Inventory decreased 8.0% to 16,095

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

A pendulum spends little time in the middle. It tends to overswing center and hang out at the extreme before changing directions. Apply that to housing. Two or three years ago, almost no one would have foreshadowed concern over affordability, yet that’s what some are cautioning against in an environment of rising prices and interest rates. It would take further increases to truly rattle confidence and sentiment, but it’s wise to monitor the market recovery’s dual-edged saber.

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

• New Listings increased 18.6% to 1,511
• Pending Sales decreased 4.5% to 857
• Inventory decreased 8.9% to 15,891

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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