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.

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.

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.

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.

For Week Ending June 8, 2019

In terms of relative balance between buyer and seller interests, residential real estate markets across the country continue to perform well on a stage that includes actors such as heightened consumer confidence, wage increases, low unemployment and an economic expansion that is on the verge of being the longest in U.S. history. Well-known players such as increased sales prices and low inventory have recently been joined by fewer new listings in several markets.

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

• New Listings increased 4.1% to 2,187
• Pending Sales decreased 2.0% to 1,467
• Inventory decreased 0.6% to 11,237

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.

For Week Ending June 1, 2019

Despite home prices that seem to be creeping ever upward like unchecked crabgrass, pending sales have been performing well, and new listings are generally keeping up with demand in a manner that is propelling the housing industry forward into weed-free pastures. The Federal Reserve considers 2.0% a healthy inflation rate, but the U.S. is expected to remain below that in 2019, which could prompt as many as three rate cuts this year. In turn, that could boost housing further. Excelsior!

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

• New Listings increased 1.2% to 1,839
• Pending Sales increased 6.3% to 1,558
• Inventory remained flat at 11,018

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 7.5% to 57
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 25, 2019

The venerable open house is a home-selling marketing tactic that is as old as the business of real estate. Put arrow signs up on busy street corners; buy some balloons; lay out flyers and snacks; welcome the stream of curious lookie-loos that traipse through the home. Many REALTORS® skip this old-fashioned tactic these days, focusing more on Internet marketing, but there are still a lot of arrow signs on street corners this time of year.

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

• New Listings increased 1.2% to 1,839
• Pending Sales increased 6.3% to 1,558
• Inventory remained flat at 11,018

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 7.5% to 57
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 18, 2019

There is a stillness in the air during this spring’s housing market, and not the foreboding kind that precedes a scary moment in a horror film or a major weather event, but rather a sameness to the springs of the last few years. Prices are still edging upwards and providing affordability challenges for many buyers. The number of new listings and homes for sale are still not quite enough – though improving – to meet current demand. And competition for desirable homes is still fierce.

In the Twin Cities region, for the week ending May 18:

• New Listings decreased 5.9% to 2,147
• Pending Sales decreased 5.8% to 1,395
• Inventory increased 1.0% to 10,553

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 5.7% to 56
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 11, 2019

There is no such thing as a national real estate market. When the median sales price of homes for sale in San Francisco ($1.6 million) are compared to the median annual household income in Youngstown, Ohio ($26,295), it is especially evident. National news outlets will report on housing stories as though one size fits all, but this is particularly untrue in 2019 – not only in terms of home pricing compared to income, but with trends in new listings and pending sales.

In the Twin Cities region, for the week ending May 11:

• New Listings decreased 1.7% to 2,044
• Pending Sales decreased .1% to 1,531
• Inventory increased 1.5% to 10,245

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 5.7% to 56
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 4, 2019

The national chatter over the past couple of weeks has been about royal babies, exciting NBA and NHL playoff games, heightened talk of higher tariffs for China, lackluster tech IPOs and, of course, who will sit on the Iron Throne. Mixed in with those conversations have been thousands of discussions about the housing market at coffee shops, over backyard fences and at real estate industry conventions. The selling season is upon us, and homes are moving quickly.

In the Twin Cities region, for the week ending May 4:

• New Listings decreased 1.6% to 2,029
• Pending Sales decreased 12.9% to 1,338
• Inventory increased 1.1% to 9,897

For the month of March:

• Median Sales Price increased 6.5% to $275,000
• Days on Market increased 15.8% to 66
• Percent of Original List Price Received decreased 0.5% to 98.6%
• Months Supply of Homes For Sale increased 5.6% to 1.9

All comparisons are to 2018

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