Inventory
Weekly Market Report
![](https://images.mightyagent.com/WeeklyMarketReport220.jpg)
U.S. home prices have increased by more than 47% since 2020, according to a recent analysis by ResiClub of the Case-Shiller National Home Price Index, outpacing the growth of the 1990s and 2010s, which saw prices rise 30.1% and 44.7%, respectively. Analysts say home price growth this decade is on track to surpass the growth of the 2000s, when home prices rose 47.3%.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JUNE 8:
- New Listings increased 3.2% to 1,666
- Pending Sales decreased 7.1% to 1,068
- Inventory increased 12.9% to 8,613
FOR THE MONTH OF MAY:
- Median Sales Price increased 4.1% to $385,000
- Days on Market increased 5.3% to 40
- Percent of Original List Price Received decreased 1.0% to 100.1%
- Months Supply of Homes For Sale increased 21.1% to 2.3
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Continue to Move Down
![](https://rss.mightyagent.com/wp-content/uploads/2024/06/Screen-Shot-2024-06-13-at-2.33.26-PM.png)
June 13, 2024
Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth. Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.
Information provided by Freddie Mac.
Inventory
New Listings and Pending Sales
Weekly Market Report
![](https://images.mightyagent.com/WeeklyMarketReport220.jpg)
The average American household spent 24.2% of their income on mortgage payments in the first three months of the year, according to the National Association of REALTORS®, down from 26.1% the previous quarter. Assuming a 20% down payment, the typical monthly mortgage payment on an existing single-family home was $2,037 in the first quarter, an increase of 9.3%, or $173 per month, compared to the same period a year ago.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JUNE 1:
- New Listings decreased 3.8% to 1,463
- Pending Sales decreased 5.0% to 960
- Inventory increased 14.0% to 8,450
FOR THE MONTH OF APRIL:
- Median Sales Price increased 4.1% to $385,000
- Days on Market remained flat at 46
- Percent of Original List Price Received decreased 0.2% to 99.9%
- Months Supply of Homes For Sale increased 23.5% to 2.1
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Pull Back
![](https://rss.mightyagent.com/wp-content/uploads/2024/06/Screen-Shot-2024-06-06-at-2.02.39-PM.png)
June 6, 2024
Mortgage rates retreated this week given incoming data showing slower growth. Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to buy a home this year, waiting for lower rates may result in small savings, but shopping around for the best rate remains tremendously beneficial.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
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