Team Donna Vanneste

Archives for October 2022

Weekly Market Report

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For Week Ending October 8, 2022

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXMortgage application activity nationwide recently dropped to its lowest pace in 25 years, according to the Mortgage Bankers Association (MBA), with purchase and refinance applications down considerably compared to this time last year, when mortgage rates were hovering around 3%. The sharp increase in rates has caused mortgage applications for purchase to decline 39% compared to the same week a year ago.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING OCTOBER 8:
  • New Listings decreased 16.8% to 1,260
  • Pending Sales decreased 40.2% to 812
  • Inventory increased 1.7% to 8,959
FOR THE MONTH OF SEPTEMBER:
  • Median Sales Price increased 6.3% to $362,100
  • Days on Market increased 39.1% to 32
  • Percent of Original List Price Received decreased 2.3% to 98.9%
  • Months Supply of Homes For Sale increased 18.8% to 1.9

All comparisons are to 2021

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

Greeting Hello

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Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32.

Greeting Hello

by Leave a Comment

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32.

Weekly Market Report

by Leave a Comment

For Week Ending October 8, 2022

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXMortgage application activity nationwide recently dropped to its lowest pace in 25 years, according to the Mortgage Bankers Association (MBA), with purchase and refinance applications down considerably compared to this time last year, when mortgage rates were hovering around 3%. The sharp increase in rates has caused mortgage applications for purchase to decline 39% compared to the same week a year ago.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING OCTOBER 8:
  • New Listings decreased 16.8% to 1,260
  • Pending Sales decreased 40.2% to 812
  • Inventory increased 1.7% to 8,959
FOR THE MONTH OF SEPTEMBER:
  • Median Sales Price increased 6.3% to $362,100
  • Days on Market increased 39.1% to 32
  • Percent of Original List Price Received decreased 2.3% to 98.9%
  • Months Supply of Homes For Sale increased 18.8% to 1.9

All comparisons are to 2021

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