For Week Ending April 2, 2016

The forecast is bright with a persistent rise in pending home sales. Low mortgage rates and rising rental prices continue to point buyers into the housing market. In order to maintain home-purchase momentum, the supply of homes for sale must grow.

In the Twin Cities region, for the week ending April 2:

• New Listings increased 15.6% to 1,954
• Pending Sales increased 1.8% to 1,378
• Inventory decreased 19.6% to 12,146

For the month of February:

• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.8% to 96.7%
• Months Supply of Inventory decreased 28.6% to 2.5

All comparisons are to 2015

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

For Week Ending March 26, 2016

With spring comes the welcoming of another season: the annual springtime seller’s market. Low inventory levels nationwide are inching sales prices higher and dropping the number of days that homes are staying on the market. With interest rates remaining unexpectedly low, there is even more incentive for buyers to competitively bid on new listings.

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

• New Listings decreased 15.9% to 1,488
• Pending Sales increased 4.4% to 1,384
• Inventory decreased 17.9% to 12,214

For the month of February:

• Median Sales Price increased 3.5% to $207,000
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 25.0% to 2.4

All comparisons are to 2015

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

For Week Ending March 19, 2016

Heading into the spring buying season, consumers are, on average, earning higher incomes than in recent years, and there is greater trust in job security compared to last year. While these factors heighten confidence in the health of the housing market, home buyers – and especially first timers – would benefit from more inventory and slow price increases.

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

• New Listings decreased 3.1% to 1,762
• Pending Sales increased 6.0% to 1,288
• Inventory decreased 17.8% to 11,959

For the month of February:

• Median Sales Price increased 3.5% to $207,083
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 25.0% to 2.4

All comparisons are to 2015

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

For Week Ending March 12, 2016

A fresh eagerness in the warming air combined with relatively affordable prices have buyers perusing and plucking homes like spring flowers, resulting in healthy sales activity. With gas prices remaining fairly low, consumers have full tanks to visit more homes. So fluff those decorative pillows and set out the cookies for your open houses: the buyers are coming and appear to be ready to bid.

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

• New Listings increased 1.8% to 1,796
• Pending Sales increased 22.8% to 1,262
• Inventory decreased 17.6% to 11,704

For the month of February:

• Median Sales Price increased 3.6% to $207,280
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 28.1% to 2.3

All comparisons are to 2015

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

For Week Ending March 5, 2016

Early March continues the 2016 trend of slow and steady home price increases across most of the country. Conversely, interest rates have remained low, keeping inventory and home sales balanced and the market healthy.

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

• New Listings increased 2.5% to 1,959
• Pending Sales increased 6.8% to 1,155
• Inventory decreased 18.7% to 11,145

For the month of February:

• Median Sales Price increased 3.8% to $207,500
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 28.1% to 2.3

All comparisons are to 2015

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

For Week Ending February 27, 2016

Strength in consumer spending and a towering peak in industrial production are both indicators that the economy has made strides early on in the year. Despite the continuing decline in inventory, the housing market should be a bright spot in the national economy.

In the Twin Cities region, for the week ending February 27:

• New Listings decreased 4.7% to 1,456
• Pending Sales increased 1.5% to 1,074
• Inventory decreased 17.8% to 11,056

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 20, 2016

The U.S. dollar is increasing in strength, and along with it, home sales from both domestic and foreign buyers. While homes currently on the market are performing well, housing starts have seen a slight drop since entering 2016.

In the Twin Cities region, for the week ending February 20:

• New Listings increased 5.0% to 1,428
• Pending Sales decreased 4.0% to 920
• Inventory decreased 19.4% to 10,774

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 13, 2016

Two central topics of conversation continue to be mortgage rates and the number of homes for sale. Turbulent financial markets have given way to even lower mortgage rates, bringing up the question of what will happen to rates as the year continues. Likewise, inventory has been on a general decline but supply should improve throughout the year.

In the Twin Cities region, for the week ending February 13:

• New Listings increased 9.0% to 1,411
• Pending Sales decreased 4.3% to 864
• Inventory decreased 21.3% to 10,440

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 6, 2016

The typical winter humdrum has hit the U.S. real estate market, with the same trends from late January continuing into February. Fewer home choices means less competition for sellers, and buyers are still in the housing game with federal rate hikes not anticipated to deter home buying in 2016, as mortgage rates are expected to stay low.

In the Twin Cities region, for the week ending February 6:

• New Listings decreased 17.6% to 1,235
• Pending Sales increased 3.4% to 890
• Inventory decreased 21.0% to 10,257

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1

All comparisons are to 2015

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

For Week Ending January 30, 2016

At the close of January, we see the same market steadiness from last year continue into 2016. Higher home prices are predicted for the year, and there has been a continuing shortage of inventory. However, we should also see a strengthening labor market and further interest in purchasing a home by millennials, keeping things relatively unwavering and balanced.

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

• New Listings increased 0.7% to 1,017
• Pending Sales increased 0.2% to 873
• Inventory decreased 21.6% to 10,285

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1

All comparisons are to 2015

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