Nationally, we are starting to see some of the impact of the government shutdown on the housing market. Applications for government mortgage products dropped to the lowest level since 2007, according to a release from the Mortgage Banker’s Association. This was while overall applications were up marginally. Most FHA lenders were able to process loans while Veterans Administration loans were slowed considerably and USDA Rural Development financing was cut off entirely. That said, there was still plenty of activity locally, much of it positive.

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

• New Listings increased 16.3% to 1,291
• Pending Sales decreased 11.4% to 867
• Inventory decreased 3.9% to 16,275

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 14.0% to 3.7

All comparisons are to 2012

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

As tricks and treats are planned, housing starts its preparation for a holiday season hibernation. Though activity hasn’t come to a complete halt – there are still year-over-year gains being posted for listings and prices – the liveliness of the summer months has started to slow. Keep watch on any movements from the Fed, on economic indicators outside of housing and on the legislative tug-of-war. Each may play a part in predicting how the rest of the fourth quarter of 2013 goes.

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

• New Listings increased 21.7% to 1,524
• Pending Sales decreased 2.7% to 892
• Inventory decreased 5.6% to 16,113

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 16.3% to 3.6

All comparisons are to 2012

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

Home price gains and housing demand are still a year-over-year improvement, but activity is beginning to moderate as the seasons change. With the possibility of further rate and price increases, some buyers are still motivated, but urgency tends to wane when holiday decorations start going up. Recovery continues, but the pace is stabilizing. Yet that’s a good thing, since harmful corrections usually follow when the market moves too far too fast.

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

• New Listings increased 17.9% to 1,536
• Pending Sales increased 2.4% to 1,037
• Inventory decreased 6.2% to 16,074

For the month of September:

• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 16.3% to 3.6

All comparisons are to 2012

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

Home prices are still rising and rates have increased incrementally. As the cement of market balance hardens, it has become more dependent on move-up and first- time home buyers. Even with tightened lending regulations, seller activity has broadened. The government shutdown should not have a major impact on national and local market housing recovery. But as we get deeper into the -ber months, it will be interesting to see if the year-over-year trends hold true, simply lessen in drama or give reason for pause.

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

• New Listings increased 10.3% to 1,449
• Pending Sales increased 12.2% to 1,106
• Inventory decreased 5.9% to 16,282

For the month of August:

• Median Sales Price increased 16.8% to $207,825
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 15.9% to 3.7

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

Higher interest rates, rising prices and a budget standoff in Washington haven’t shaken consumer sentiment regarding housing. Buyers continue to riffle through existing inventory for options, keeping an eye out for new listings. A sense of normalcy is returning to the real estate ethos after more than a decade of extreme ups and downs. It’s a big week for economic and housing news, so keep your eyes and ears tuned for any changing headlines.

In the Twin Cities region, for the week ending September 21:

• New Listings increased 13.3% to 1,469
• Pending Sales decreased 5.5% to 970
• Inventory decreased 6.8% to 16,249

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

For several weeks, markets across the country have seen consistent gains in sales, prices and percent of list price received at sale. Things like steadily low rates, less lender-mediated inventory and increased consumer confidence are all helping this reality. Each and every week reveals signs of a recovered market that are going from temporary yard sign to permanent road sign. Here’s to hoping for prosperous signs on the road ahead.

In the Twin Cities region, for the week ending September 14:

• New Listings increased 19.5% to 1,625
• Pending Sales increased 8.3% to 1,006
• Inventory decreased 8.0% to 16,095

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

A pendulum spends little time in the middle. It tends to overswing center and hang out at the extreme before changing directions. Apply that to housing. Two or three years ago, almost no one would have foreshadowed concern over affordability, yet that’s what some are cautioning against in an environment of rising prices and interest rates. It would take further increases to truly rattle confidence and sentiment, but it’s wise to monitor the market recovery’s dual-edged saber.

In the Twin Cities region, for the week ending September 7:

• New Listings increased 18.6% to 1,511
• Pending Sales decreased 4.5% to 857
• Inventory decreased 8.9% to 15,891

For the month of August:

• Median Sales Price increased 16.9% to $207,900
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

Whether it’s accommodative monetary policy, the promise of less shadowy shadow inventory or increased economic recovery, U.S. housing continues along a path of sustainable growth. Rising prices are drawing otherwise
reluctant or previously underwater sellers. And buyers are grateful for any additional supply. Intervention from the Fed may or may not be on the horizon. Nonetheless, there’s reason to be confident in positive market longevity.

In the Twin Cities region, for the week ending August 31:

• New Listings increased 16.3% to 1,359
• Pending Sales increased 22.9% to 1,243
• Inventory decreased 9.3% to 16,081

For the month of August:

• Median Sales Price increased 16.9% to $208,000
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6

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

So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.

In the Twin Cities region, for the week ending August 17:

• New Listings increased 27.8% to 1,643
• Pending Sales increased 8.7% to 1,173
• Inventory decreased 10.1% to 16,124

For the month of July:

• Median Sales Price increased 16.8% to $208,000
• Days on Market decreased 31.4% to 72
• Percent of Original List Price Received increased 2.6% to 97.5%
• Months Supply of Inventory decreased 19.6% to 3.7

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

In the world of costs and benefits, no good deed goes unpunished and every rain cloud has a silver lining. The Commerce Department recently reported that consumer retail spending had risen the most in seven months. That bodes well for residential real estate – an industry sensitive to consumer confidence and spending levels.

But it could force the Federal Reserve’s hand in tapering stimulatory monetary policy sooner than later, something that could push interest rates off their current lows.

In the Twin Cities region, for the week ending August 10:

• New Listings increased 19.1% to 1,650
• Pending Sales increased 10.1% to 1,197
• Inventory decreased 11.3% to 15,990

For the month of July:

• Median Sales Price increased 16.8% to $208,000
• Days on Market decreased 31.4% to 72
• Percent of Original List Price Received increased 2.6% to 97.5%
• Months Supply of Inventory decreased 21.7% to 3.6

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