Real Estate News

Monday, July 15th, 2019
For Week Ending July 6, 2019

The order of the day is market balance between buyer and seller interests. While true that there may not be as many homes for sale to choose from and that prices are on the high end for the average first-time home buyer, there are considerations for sellers as well. Such as, more markets are swinging toward the back side of balance with fewer sales leading to some amount of downward price pressure from a beleaguered buyer core that is becoming less willing to overreach.

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

  • New Listings decreased 16.0% to 1,006
  • Pending Sales increased 11.5% to 1,187
  • Inventory increased to 12,074

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale remained flat at 2.5

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, July 8th, 2019
For Week Ending June 29, 2019

The summer selling season is progressing with plenty of buying and selling activity thus far, thanks to a healthy economy that has consumers willing to spend their hard-earned money on the things they desire, even if it’s more expensive than it was a few years ago. This has proven to be true in several sectors, whether retail, travel or even housing, the most expensive purchase most people will ever make in their lives.

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

  • New Listings increased 0.4% to 1,878
  • Pending Sales decreased 5.0% to 1,498
  • Inventory decreased 0.3% to 12,083

For the month of May:

  • Median Sales Price increased 5.2% to $285,000
  • Days on Market decreased 4.3% to 45
  • Percent of Original List Price Received decreased 0.2% to 100.0%
  • Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, July 1st, 2019
For Week Ending June 22, 2019

Persistently low mortgage rates and slower price increases have combined with economic growth, low unemployment, wage improvement and consumer confidence to keep home buyers in the market, despite insufficient supply. Builders have not made enough new homes for several years, and, thus, national housing inventory is extremely tight. The vacancy rate for owner-occupied homes in 2018 was the lowest since 1995. If the economy begins to slow, this situation is unlikely to improve.

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

  • New Listings increased 1.9% to 2,028
  • Pending Sales increased 1.2% to 1,494
  • Inventory increased 1.1% to 12,008

For the month of May:

  • Median Sales Price increased 5.2% to $285,000
  • Days on Market decreased 4.3% to 45
  • Percent of Original List Price Received decreased 0.2% to 100.0%
  • Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |
Monday, June 24th, 2019

“While perhaps we won’t match the growth in the market seen over the last few years, stability and sustainability are the primary objectives.”

Posted in Monthly Skinny Video |
Monday, June 24th, 2019
For Week Ending June 15, 2019

As anticipated, the Federal Reserve did not change the target range for the federal funds rate (currently set at 2.25% to 2.5%) during their most recent meeting, but the door was left open for a possible rate reduction in 2019 following a string of increases over the last several years. Although the economy is still performing well due to low unemployment and solid retail sales, trade tensions, slowed manufacturing and meek business investments have created uncertainty.

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

  • New Listings remained flat at 2,069
  • Pending Sales decreased 2.0% to 1,463
  • Inventory increased 1.0% to 11,687

For the month of May:

  • Median Sales Price increased 5.2% to $285,000
  • Days on Market decreased 4.3% to 45
  • Percent of Original List Price Received decreased 0.2% to 100.0%
  • Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Posted in Weekly Report |

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