Dennis Holmquist

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New Listings and Pending Sales

January 13, 2025 by Dennis Holmquist

Filed Under: Listings and Pendings

Inventory

January 13, 2025 by Dennis Holmquist

Filed Under: Inventory

Weekly Market Report

January 13, 2025 by Dennis Holmquist

For Week Ending January 4, 2025

U.S. pending home sales recently hit a 21-month high, rising 2.2% month-over-month, marking the fourth consecutive month in which contract signings increased, according to the National Association of REALTORS®. On a monthly basis, pending sales increased in the Midwest, South, and West but decreased in the Northeast. Annual gains were reported in all four regions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 4:

  • New Listings decreased 18.9% to 710
  • Pending Sales decreased 10.1% to 426
  • Inventory increased 3.3% to 7,191

FOR THE MONTH OF DECEMBER:

  • Median Sales Price increased 4.6% to $370,000
  • Days on Market increased 9.8% to 56
  • Percent of Original List Price Received increased 0.3% to 97.0%
  • Months Supply of Homes For Sale decreased 5.3% to 1.8

All comparisons are to 2024

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

Filed Under: Inventory

Mortgage Rates Continue to Trend Up

January 9, 2025 by Dennis Holmquist

January 9, 2024
In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent. The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners.

Information provided by Freddie Mac.

Filed Under: Interest Rates

New Listings and Pending Sales

January 6, 2025 by Dennis Holmquist

Filed Under: Listings and Pendings

Inventory

January 6, 2025 by Dennis Holmquist

Filed Under: Inventory

Weekly Market Report

January 6, 2025 by Dennis Holmquist

For Week Ending December 28, 2024

The typical homeowner has accumulated $147,000 in housing wealth over the last five years, according to a study by the National Association of REALTORS®. 87% of metropolitan markets (196 out of 226 tracked areas) reported home price gains in the third quarter of 2024, while 7% of markets experienced double-digit price appreciation annually.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 28:

  • New Listings decreased 14.1% to 328
  • Pending Sales increased 2.6% to 427
  • Inventory decreased 0.2% to 7,435

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 3.4% to $375,000
  • Days on Market increased 25.0% to 50
  • Percent of Original List Price Received increased 0.2% to 97.6%
  • Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2023

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

Filed Under: Inventory

Mortgage Rates Reach Highest Point Since July

January 2, 2025 by Dennis Holmquist

January 2, 2024
Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months. Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.

Information provided by Freddie Mac.

Filed Under: Interest Rates

New Listings and Pending Sales

December 30, 2024 by Dennis Holmquist

Filed Under: Listings and Pendings

Inventory

December 30, 2024 by Dennis Holmquist

Filed Under: Inventory

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