For Week Ending April 11, 2015

Both the job market and housing starts regularly draw media attention. One week, reports show that hiring is up and salaries are on the rise, and that home prices are increasing and inventory is on the rise. Then you might catch a story about a layoff or lack of homes for sale and flat prices. While there will always be markets in the country that aren’t as fast-tracked as others, it doesn’t mean they will finish last in the race. Recovery is still evident, as trends show stability to steady improvement.

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

• New Listings increased 9.7% to 2,114
• Pending Sales increased 17.0% to 1,319
• Inventory decreased 0.2% to 14,509

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory increased 3.0% to 3.4

All comparisons are to 2014

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

For Week Ending April 4, 2015

Rent or buy? It is the question on the minds of many as we cast full sail into the selling season. Whilst stories are written about which cities and neighborhoods are better to rent or buy in, we can hang in the peace of a fairly stable market where there are good options available for rent and sale. Spring is sprung, yet there is no raining on the hit parade of homeownership.

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

• New Listings decreased 8.4% to 1,688
• Pending Sales increased 32.8% to 1,364
• Inventory increased 2.8% to 14,431

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory remained flat at 3.3

All comparisons are to 2014

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

For Week Ending March 28, 2015

While there may be bubbly prices where bridges both Golden and Brooklyn adorn the last remaining postcards of a bygone era when people purchased postcard stamps, the bulk of the U.S. is in great shape this spring. Homeownership is a positive prospect in the face of rising rents in even the most affordable rental markets, while new home sales continue to bloom along with flowers and tree buds.

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

• New Listings increased 10.4% to 1,767
• Pending Sales increased 27.6% to 1,360
• Inventory increased 2.4% to 14,190

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 21, 2015

An increase in new home sales are in the spotlight, thanks to some recent figures by the Commerce Department, but one should be careful not to speculate too much about sales outpacing predicted numbers from the beginning of the year. Small sample sizes, seasonal adjustments and poor geographic weighting can have undesirable consequences on the reliability of national figures. This is why locally grown MLS data is often the best source for quality market-informed nourishment.

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

• New Listings increased 22.1% to 1,821
• Pending Sales increased 27.1% to 1,252
• Inventory increased 1.7% to 13,869

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 14, 2015

Have rents gone up enough to get renters to lean toward homeownership again? That’s the question of the moment. With mortgage rates remaining low, the time may be ripe for renters to invest in something beyond a 12-month lease as rental affordability is beginning to border on unaffordability.

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

• New Listings increased 20.6% to 1,765
• Pending Sales increased 14.3% to 1,040
• Inventory increased 1.4% to 13,523

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 7, 2015

Many residential real estate markets across the country and locally are in a fairly stable state of balance, causing most stories about housing to be conservative in nature with not much change to report. As the weather continues to warm up across the country, more sales are expected.

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

• New Listings increased 31.7% to 1,915
• Pending Sales increased 34.1% to 1,098
• Inventory increased 0.3% to 13,018

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending February 28, 2015

Across the country, some Fortune 500 companies have been raising their
minimum wage. How does this correlate to the housing industry? Mo’ money =
mo’ house-buying powerz. Coupled with the dismantled idea that aging
millennials want to remain at home forever (because, come on, really?), the
housing market is making inroads into two factors that have plagued the buyer
market in recent years. Warmer weather sure can’t hurt either.

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

• New Listings increased 23.0% to 1,532
• Pending Sales increased 21.0% to 1,076
• Inventory decreased 2.2% to 12,690

For the month of February:

• Median Sales Price increased 10.4% to $202,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.6% to 94.1%
• Months Supply of Inventory remained flat at 3.0

All comparisons are to 2014

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

For Week Ending February 21, 2015

Rumors that Fannie Mae and Freddie Mac could one day be a thing of the past have people wondering about the future of the 30-year fixed-rate mortgage. But let’s not sound the alarm just yet. A drastic change to lending’s gold standard is certainly not on the immediate horizon. Meanwhile, Federal Reserve Chair Janet Yellen seems to have no immediate interest in raising interest rates for the first time since 2006. The economy remains stable for the time being, which should keep housing rolling through the short-named months.

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

• New Listings increased 29.8% to 1,365
• Pending Sales increased 36.4% to 981
• Inventory decreased 3.0% to 12,570

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory increased 3.4% to 3.0

All comparisons are to 2014

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

For Week Ending February 14, 2015

As we hit February, mortgage rates continue to remain low, bringing about a high dosage of optimism to the market. While some reports attempt to dissect drops in builder confidence with a negative-bent attitude, low rates seem prepped to steer potential buyers toward getting their own set of house keys, curbing the pessimism of market naysayers.

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

• New Listings increased 12.1% to 1,298
• Pending Sales increased 15.6% to 920
• Inventory decreased 3.7% to 12,410

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 7.5% to 100
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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

For Week Ending February 7, 2015

Nationally, housing starts are off to a good start in 2015, with new projects ahead of last year at this time. Before the confetti cannons come out, this doesn’t necessarily mean that sellers can start asking more and that buyers will immediately have more to choose from. But this does bode well for increased confidence throughout the residential real estate marketplace. Balance means a lighter ebb and flow of various market metrics rather than astronomical gains and losses. This is positive.

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

• New Listings increased 25.4% to 1,496
• Pending Sales increased 14.3% to 881
• Inventory decreased 5.1% to 12,104

For the month of January:

• Median Sales Price increased 8.5% to $195,000
• Days on Market increased 8.6% to 101
• Percent of Original List Price Received increased 0.2% to 93.7%
• Months Supply of Inventory remained flat at 2.9

All comparisons are to 2014

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