For Week Ending December 7, 2019

Both conforming Conventional loan and FHA loan limits are increasing starting January 1, 2020 in an effort to trend higher with increasing home prices. These new higher limits will expand the pool of buyers able to take advantage of the most common financing options for primary residences. Additionally, the VA has announced that due to the Blue Water Navy Veterans Act of 2019, VA loans will no longer have fixed limits starting January 1, 2020, which should raise the number of active duty military and veterans that can take advantage of this great program. Of course in all cases, the borrower must still qualify for the loan amounts they are seeking, regardless of the caps.

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

• New Listings increased 9.6% to 867
• Pending Sales increased 19.2% to 905
• Inventory decreased 8.8% to 9,822

For the month of November:

• Median Sales Price increased 5.6% to $279,900
• Days on Market decreased 1.9% to 51
• Percent of Original List Price Received increased 0.2% to 97.5%
• Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending November 30, 2019

Americans across the country sat down to Thanksgiving with friends and family this week. Real estate activity took a backseat to the preparation of meals and the hosting of guests, where securing second helpings were more important than securing second homes. As we enter the final weeks of 2019, there is strength and optimism in the housing market, but at a pace that is muted due to the holiday season. The relatively low levels of inventory coupled with continued strong buyer activity are the common refrains across much of the country.

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

• New Listings decreased 43.6% to 501
• Pending Sales decreased 26.3% to 702
• Inventory decreased 6.6% to 10,461

For the month of October:

• Median Sales Price increased 5.7% to $280,000
• Days on Market decreased 4.2% to 46
• Percent of Original List Price Received increased 0.2% to 98.1%
• Months Supply of Homes For Sale decreased 4.0% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending November 30, 2019

Americans across the country sat down to Thanksgiving with friends and family this week. Real estate activity took a backseat to the preparation of meals and the hosting of guests, where securing second helpings were more important than securing second homes. As we enter the final weeks of 2019, there is strength and optimism in the housing market, but at a pace that is muted due to the holiday season. The relatively low levels of inventory coupled with continued strong buyer activity are the common refrains across much of the country.

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

• New Listings decreased 43.6% to 501
• Pending Sales decreased 26.3% to 702
• Inventory decreased 6.6% to 10,461

For the month of October:

• Median Sales Price increased 5.7% to $280,000
• Days on Market decreased 4.2% to 46
• Percent of Original List Price Received increased 0.2% to 98.1%
• Months Supply of Homes For Sale decreased 4.0% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.