New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending April 1, 2023
The annual rate of US rent growth has continued to slow annually, with single-family rents increasing 5.7% as of last measure, the lowest level since spring 2021, according to Corelogic’s most recent Single-Family Rent Index (SFRI). This marks the 9th consecutive month rent growth has slowed, with Orlando, FL, Charlotte, NC, and New York having the highest annual single-family rent price increases, while Phoenix posted the lowest annual rent price gain for the period.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 1:
- New Listings decreased 30.4% to 1,081
- Pending Sales decreased 24.4% to 942
- Inventory increased 6.4% to 5,815
FOR THE MONTH OF FEBRUARY:
- Median Sales Price increased 0.6% to $342,000
- Days on Market increased 38.6% to 61
- Percent of Original List Price Received decreased 3.6% to 97.2%
- Months Supply of Homes For Sale increased 44.4% to 1.3
All comparisons are to 2022
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Trending Lower
April 6, 2023
Mortgage rates continue to trend down entering the traditional spring homebuying season. Unfortunately, those in the market to buy are facing a number of challenges, not the least of which is the low inventory of homes for sale, especially for aspiring first-time homebuyers.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending March 25, 2023
Mortgage interest rates declined for the third week in a row, with the 30-year fixed rate mortgage averaging 6.32% the week ending 3/30/23, the lowest level since mid-February, according to Freddie Mac. The drop in rates has led to an increase in mortgage demand, with mortgage applications to purchase a home rising 2% from the previous week, marking the fourth consecutive week home purchase applications increased, according to the Mortgage Bankers Association.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 25:
- New Listings decreased 28.1% to 1,035
- Pending Sales decreased 28.4% to 846
- Inventory increased 9.2% to 5,799
FOR THE MONTH OF FEBRUARY:
- Median Sales Price increased 0.6% to $342,000
- Days on Market increased 38.6% to 61
- Percent of Original List Price Received decreased 3.6% to 97.2%
- Months Supply of Homes For Sale increased 44.4% to 1.3
All comparisons are to 2022
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Decrease for the Third Consecutive Week
March 30, 2023
Economic uncertainty continues to bring mortgage rates down. Over the last several weeks, declining rates have brought borrowers back to the market but, as the spring homebuying season gets underway, low inventory remains a key challenge for prospective buyers.
Information provided by Freddie Mac.
Weekly Market Report
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.
