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Inventory

January 27, 2025 by Donna Vanneste

Filed Under: Inventory

Existing Home Sales

January 27, 2025 by Donna Vanneste

Filed Under: Existing Home Sales

Weekly Market Report

January 27, 2025 by Donna Vanneste

For Week Ending January 18, 2025

U.S. home prices increased 4.3% year-over-year in the third quarter of 2024, according to the Federal Housing Finance Agency House Price Index Quarterly Report. Home prices were up in 49 states on an annual basis, with prices rising most in Hawaii (10.4%), Delaware (8.5%), and Rhode Island (8.4%). The U.S. housing market has seen positive annual appreciation each quarter since 2012.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 18:

  • New Listings increased 10.0% to 928
  • Pending Sales decreased 4.4% to 587
  • Inventory decreased 2.5% to 6,880

FOR THE MONTH OF DECEMBER:

  • Median Sales Price increased 4.6% to $370,000
  • Days on Market increased 9.8% to 56
  • Percent of Original List Price Received increased 0.3% to 97.0%
  • Months Supply of Homes For Sale decreased 5.3% to 1.8

All comparisons are to 2024

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

Filed Under: Inventory

December Monthly Skinny Video

January 27, 2025 by Donna Vanneste

Filed Under: Interest Rates

Mortgage Rates Drop Below Seven Percent

January 23, 2025 by Donna Vanneste

January 23, 2024
After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks. While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.

Information provided by Freddie Mac.

Filed Under: Interest Rates

New Listings and Pending Sales

January 21, 2025 by Donna Vanneste

Filed Under: Listings and Pendings

Inventory

January 21, 2025 by Donna Vanneste

Filed Under: Inventory

Weekly Market Report

January 21, 2025 by Donna Vanneste

For Week Ending January 11, 2025

Higher mortgage rates, coupled with rising sales prices, continue to impact buyer preferences for smaller homes. According to the U.S. Census Bureau, the typical single-family home under construction had a median floor area of 2,158 square feet in the third quarter of 2024, down from 2,214 square feet in the third quarter of 2023. The average size of new single-family homes started in the third quarter dropped to 2,384 square feet, down from an average of 2,434 square feet one year earlier.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 11:

  • New Listings increased 9.7% to 1,006
  • Pending Sales decreased 7.7% to 529
  • Inventory decreased 2.0% to 6,857

FOR THE MONTH OF DECEMBER:

  • Median Sales Price increased 4.6% to $370,000
  • Days on Market increased 9.8% to 56
  • Percent of Original List Price Received increased 0.3% to 97.0%
  • Months Supply of Homes For Sale decreased 5.3% to 1.8

All comparisons are to 2024

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

Filed Under: Inventory

Mortgage Rates Surpass Seven Percent

January 16, 2025 by Donna Vanneste

January 16, 2024
Mortgage rates ticked up for the fifth consecutive week and crossed seven percent for the first time since May of 2024. The underlying strength of the economy is contributing to this increase in rates. Despite rising rates, Freddie Mac research highlights that consumers can save money if they shop for several different lender quotes.

Information provided by Freddie Mac.

Filed Under: Interest Rates

New Listings and Pending Sales

January 13, 2025 by Donna Vanneste

Filed Under: Listings and Pendings

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