Category Archives: Weekly Report

Whether it’s accommodative monetary policy, the promise of less shadowy shadow inventory or increased economic recovery, U.S. housing continues along a path of sustainable growth. Rising prices are drawing otherwise
reluctant or previously underwater sellers. And buyers are grateful for any additional supply. Intervention from the Fed may or may not be on the horizon. Nonetheless, there’s reason to be confident in positive market longevity.

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

• New Listings increased 16.3% to 1,359
• Pending Sales increased 22.9% to 1,243
• Inventory decreased 9.3% to 16,081

For the month of August:

• Median Sales Price increased 16.9% to $208,000
• 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.

So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.

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

• New Listings increased 27.8% to 1,643
• Pending Sales increased 8.7% to 1,173
• Inventory decreased 10.1% to 16,124

For the month of July:

• Median Sales Price increased 16.8% to $208,000
• Days on Market decreased 31.4% to 72
• Percent of Original List Price Received increased 2.6% to 97.5%
• Months Supply of Inventory decreased 19.6% to 3.7

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

In the world of costs and benefits, no good deed goes unpunished and every rain cloud has a silver lining. The Commerce Department recently reported that consumer retail spending had risen the most in seven months. That bodes well for residential real estate – an industry sensitive to consumer confidence and spending levels.

But it could force the Federal Reserve’s hand in tapering stimulatory monetary policy sooner than later, something that could push interest rates off their current lows.

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

• New Listings increased 19.1% to 1,650
• Pending Sales increased 10.1% to 1,197
• Inventory decreased 11.3% to 15,990

For the month of July:

• Median Sales Price increased 16.8% to $208,000
• Days on Market decreased 31.4% to 72
• Percent of Original List Price Received increased 2.6% to 97.5%
• Months Supply of Inventory decreased 21.7% to 3.6

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

Nationwide, local markets have become stable enough to withstand mortgage rate increases. Improving job and other economic sectors have fortified real, organic housing growth. Bargain-basement deals have given way to multiple offers, stiff bidding wars and lickety-split days on market. Inventory may still be thin, but traditional home sellers are stepping up to the plate with new listings. It won’t be long now until the housing recovery is once again referred to as just housing.

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

• New Listings increased 25.1% to 1,731
• Pending Sales increased 6.2% to 1,171
• Inventory decreased 14.3% to 15,623

For the month of June:

• Median Sales Price increased 17.5% to $210,000
• Days on Market decreased 34.5% to 74
• Percent of Original List Price Received increased 2.5% to 97.5%
• Months Supply of Inventory decreased 25.0% to 3.6

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

Housing isn’t just housing. That may have a strange ring to it. But housing includes building, inspecting, remodeling, lending, refinancing, furnishing and a host of other functions tied to the physical space of home. Each of these functions is tied to job growth and interest rates, and each has seen some spectacular highs and lows over the past eight years. There has been a recent sense of stability brewing in all of housing. Here’s to making the most of it.

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

• New Listings increased 25.1% to 1,921
• Pending Sales increased 26.5% to 1,352
• Inventory decreased 15.6% to 15,390

For the month of June:

• Median Sales Price increased 17.5% to $210,000
• Days on Market decreased 34.5% to 74
• Percent of Original List Price Received increased 2.5% to 97.5%
• Months Supply of Inventory decreased 25.0% to 3.6

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

A fellow named Newton once said that a body in motion tends to stay in motion. Presently, the housing market is going to be in a state of anti-motion, otherwise known as inertia. Each year, the activity around Independence Day collides with market trends because the summer holiday season ends up being more about family fun than housing fuss. As the market shifts from under us, things like historically low interest rates and rising rents cause pause for those with a clear idea of what they want despite the lack of funding to achieve it.

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

• New Listings increased 22.8% to 1,738
• Pending Sales increased 22.4% to 1,405
• Inventory decreased 16.8% to 15,405

For the month of June:

• Median Sales Price increased 17.5% to $210,000
• Days on Market decreased 33.6% to 75
• Percent of Original List Price Received increased 2.5% to 97.5%
• Months Supply of Inventory decreased 27.1% to 3.5

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

Consumer confidence, prices, sales and percent of list price received at sale are all generally on the ups. This has been a nice place to be for real estate practitioners. In terms of expecting the unexpected trends, economists suggest tuning into indicators such as jobs, stocks and Federal Reserve policy decisions. The keen industry professional deserves the most up-to-date stats for daily decision making. Read on for this week’s deserved sneak peek.

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

• New Listings increased 28.9% to 1,797
• Pending Sales increased 14.1% to 1,214
• Inventory decreased 18.2% to 15,195

For the month of May:

• Median Sales Price increased 14.8% to $194,000
• Days on Market decreased 29.8% to 87
• Percent of Original List Price Received increased 2.5% to 97.0%
• Months Supply of Inventory decreased 30.6% to 3.4

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

Sellers are finally starting to catch up with strong buyer demand, but at the rate that homes are being snatched up, the influx of new listings will need to be more than a short-term addition. Rising home prices, fewer days on market and more homes being sold all support a positive public opinion about real estate. The following local stats should shed invaluable quantitative support for that warm fuzzy feeling residential real estate is handing out.

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

• New Listings increased 23.2% to 1,951
• Pending Sales increased 12.0% to 1,329
• Inventory decreased 21.7% to 14,569

For the month of May:

• Median Sales Price increased 14.8% to $194,000
• Days on Market decreased 29.8% to 87
• Percent of Original List Price Received increased 2.5% to 97.0%
• Months Supply of Inventory decreased 30.6% to 3.4

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

Interest rates are on the rise, but further increases should be incremental and gradual without harming housing demand. All the same, some buyers might feel an extra pinch to act soon if economic and jobs data continues on a path of improvement. Ultra-low rates will not remain the rule of the day if the economy gives the Fed no reason to maintain its quantitative easing (money printing) stimulus policies.

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

• New Listings increased 23.6% to 1,713
• Pending Sales increased 22.8% to 1,180
• Inventory decreased 23.1% to 14,349

For the month of May:

• Median Sales Price increased 15.1% to $194,450
• Days on Market decreased 29.8% to 87
• Percent of Original List Price Received increased 2.5% to 97.0%
• Months Supply of Inventory decreased 30.6% to 3.4

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

Although buyers are still in the market for higher inventory levels, sellers remain happy with their multiple-offer situations and short days on the market. As the product mix shifts away from distressed properties and towards traditional sellers, the U.S. housing market finds itself in a place it hasn’t been in a while – healthfully competitive. Pocket listings and shadow inventory provide something for the media to talk about, but for now, the market seems strong enough to hold up to any casual cannon fodder aimed its way.

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

• New Listings increased 29.8% to 1,799
• Pending Sales increased 18.8% to 1,382
• Inventory decreased 24.6% to 14,169

For the month of April:

• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.8% to 96.0%
• Months Supply of Inventory decreased 36.0% to 3.2

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