For Week Ending June 1, 2019

Despite home prices that seem to be creeping ever upward like unchecked crabgrass, pending sales have been performing well, and new listings are generally keeping up with demand in a manner that is propelling the housing industry forward into weed-free pastures. The Federal Reserve considers 2.0% a healthy inflation rate, but the U.S. is expected to remain below that in 2019, which could prompt as many as three rate cuts this year. In turn, that could boost housing further. Excelsior!

In the Twin Cities region, for the week ending June 1:

• New Listings increased 1.2% to 1,839
• Pending Sales increased 6.3% to 1,558
• Inventory remained flat at 11,018

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 7.5% to 57
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 25, 2019

The venerable open house is a home-selling marketing tactic that is as old as the business of real estate. Put arrow signs up on busy street corners; buy some balloons; lay out flyers and snacks; welcome the stream of curious lookie-loos that traipse through the home. Many REALTORS® skip this old-fashioned tactic these days, focusing more on Internet marketing, but there are still a lot of arrow signs on street corners this time of year.

In the Twin Cities region, for the week ending May 25:

• New Listings increased 1.2% to 1,839
• Pending Sales increased 6.3% to 1,558
• Inventory remained flat at 11,018

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 7.5% to 57
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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

For Week Ending May 18, 2019

There is a stillness in the air during this spring’s housing market, and not the foreboding kind that precedes a scary moment in a horror film or a major weather event, but rather a sameness to the springs of the last few years. Prices are still edging upwards and providing affordability challenges for many buyers. The number of new listings and homes for sale are still not quite enough – though improving – to meet current demand. And competition for desirable homes is still fierce.

In the Twin Cities region, for the week ending May 18:

• New Listings decreased 5.9% to 2,147
• Pending Sales decreased 5.8% to 1,395
• Inventory increased 1.0% to 10,553

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 5.7% to 56
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

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