The Bureau of Labor Statistics reported in August that total nonfarm payroll employment increased by more than 200,000 in July, and the national unemployment level is holding relatively steady at 6.2 percent. Combined with a reported increase in consumer confidence by Reuters, the U.S. economy is looking pretty spiffy. So long as quality paying jobs continue to be added to the mix and housing policy remains welcoming to those who want to buy and sell, there is reason to remain optimistic about residential real estate.

In the Twin Cities region, for the week ending August 30:

• New Listings increased 0.6% to 1,365
• Pending Sales decreased 10.8% to 1,087
• Inventory increased 9.9% to 18,627

For the month of August:

• Median Sales Price increased 5.3% to $219,001
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.8% to 96.2%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

As summer begins to wane, the total number of home sales will gradually drop like the leaves of fall. And although autumn is nearing, that doesn’t necessarily mean that the changing of the season will bring market chills. Because even as sales drop, sales prices are still mostly on the rise and inventory is stabilizing all across the country. And let’s not forget that lower sales figures are also due to fewer distressed properties on the market.

In the Twin Cities region, for the week ending August 23:

• New Listings increased 3.5% to 1,539
• Pending Sales increased 4.5% to 1,175
• Inventory increased 10.1% to 18,755

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Recent data would suggest that inflation is mostly under control, which hopefully indicates that the Federal Reserve will have enough room to comfortably maintain its accommodative monetary policy stance. So rather than losing momentum, the housing market has found even sturdier ground upon which it can sustain itself. With economic strength and increased consumer confidence, expectations of more inventory and more sales is not out of line.

In the Twin Cities region, for the week ending August 16:

• New Listings increased 3.3% to 1,697
• Pending Sales decreased 6.6% to 1,081
• Inventory increased 9.7% to 18,648

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Like a broken digital music player, analysts continue to skip to housing market stability. Although residential real estate activity may not have the same pep as last year’s summer hits, sales are still fancy enough to attract fresh sellers. New listings are up in certain submarkets, which is a needed thing for continued optimism. The highs and lows present a few short years ago are about as visible as a forgotten app, but those days are still just an errant thumb press away.

In the Twin Cities region, for the week ending July 26:

• New Listings increased 4.0% to 1,784
• Pending Sales decreased 7.1% to 1,147
• Inventory increased 8.7% to 18,338

For the month of June:

• Median Sales Price increased 4.5% to $219,500
• Days on Market decreased 5.4% to 70
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 13.2% to 4.3

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

By Aubray Erhardt on Monday, July 28th, 2014

Finding the truth behind housing statistics is like debating the best beer for summertime. On the beer side, you might pick an American wheat, Belgian white, shandy, Kolsch, cider or maybe a Coors Light if you’re into the pickup truck and dirt road scene. On the housing side, you might say we’re too heavy toward a seller’s market as prices rise, that another buyer’s market is over the horizon if inventory pushes up or that things are just right for the first time in years. No matter where your submarket sits on the scale, it’s safe to say that MLS data is the best base for a meaningful opinion and that a doppelbock is not a good base for an outdoor barbecue in the middle of July.

In the Twin Cities region, for the week ending July 19:

• New Listings increased 10.4% to 1,913
• Pending Sales decreased 1.0% to 1,145
• Inventory increased 8.9% to 18,011

For the month of June:

• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

We are within one of the most affordable home-buying environments in history, but prices are up and rates may well go up, too. Rising prices provide empirical evidence of healthy demand. If inventory is able to replenish itself over the course of the next several months, sales could break up the sluggishness seen in some markets. There are those who believe that millennial buyers are being seduced away from homeownership by the agility of urban renting. That doesn’t appear to be the case. Housing is enjoying brisk activity, and people are talking positively about residential real estate again.

In the Twin Cities region, for the week ending July 12:

• New Listings increased 8.7% to 2,091
• Pending Sales decreased 8.4% to 1,231
• Inventory increased 7.8% to 17,606

For the month of June:

• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

By Aubray Erhardt on Monday, July 14th, 2014

Pending sales are back and ready to rumble along with their trusty comrade, inventory. After a slower start to the year, the numbers are rallying for a comeback. However, one number not rising is the number of people filing for unemployment. According to the U.S. Department of Labor, jobless applications continued their downward trend. This could help families pad downpayment funds. With more inventory to choose from, there aren’t any cheap shots in this boxing match.

In the Twin Cities region, for the week ending July 5:

• New Listings increased 14.8% to 1,269
• Pending Sales increased 17.4% to 1,045
• Inventory increased 7.7% to 17,587

For the month of June:

• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Was the entirety of the U.S. fixated on footy while the Americans still had a shot? Maybe for 90 minutes here and there, but the distraction of quadrennial global sports entertainment is not enough to affect weekly sales activity in a country more in line with the Super Bowl than the World Cup. More accurate indicators of upcoming housing performance can be found in positive jobs activity that can spur real change in housing formation and reformation. With employers adding a seasonally adjusted 288,000 jobs last month and unemployment down to 6.1 percent, this summer has additional brightness to go with the high sun.

In the Twin Cities region, for the week ending June 28:

• New Listings increased 5.9% to 1,844
• Pending Sales decreased 8.5% to 1,244
• Inventory increased 7.0% to 17,583

For the month of May:

• Median Sales Price increased 8.2% to $210,000
• Days on Market decreased 7.0% to 80
• Percent of Original List Price Received decreased 0.2% to 96.8%
• Months Supply of Inventory increased 11.1% to 4.0

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.