For Week Ending October 12, 2024
According to the Mortgage Bankers Association, the median mortgage application payment was $2,057 in August, down from $2,140 in July, marking the fourth consecutive month affordability conditions improved. Mortgage rates are down significantly from their peak of 7.79% last October, which should help bring additional buyers to the market in the months ahead.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING OCTOBER 12:
- New Listings increased 12.5% to 1,368
- Pending Sales increased 7.3% to 865
- Inventory increased 10.8% to 10,244
FOR THE MONTH OF SEPTEMBER:
- Median Sales Price increased 2.4% to $379,950
- Days on Market increased 14.7% to 39
- Percent of Original List Price Received decreased 0.8% to 98.5%
- Months Supply of Homes For Sale increased 12.0% to 2.8
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.