For Week Ending September 14, 2024

Mortgage activity surged the week ending September 13, 2024, as falling interest rates boost borrower demand nationwide. The Mortgage Bankers Association reports mortgage loan application volume increased 14.2% on a seasonally adjusted basis from the previous week, with purchase applications up 5%, while refinance applications jumped 24% from one week earlier.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 14:

• New Listings decreased 0.6% to 1,433
• Pending Sales decreased 5.1% to 856
• Inventory increased 11.4% to 10,002

FOR THE MONTH OF AUGUST:

• Median Sales Price increased 2.2% to $388,500
• Days on Market increased 21.2% to 40
• Percent of Original List Price Received decreased 1.3% to 98.7%
• Months Supply of Homes For Sale increased 17.4% to 2.7

All comparisons are to 2023

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

For Week Ending September 7, 2024

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index hit a new all time high in June, rising 5.4% year-over-year, a slight decline from a 5.9% annual gain the previous month. The 20-City Composite was up 6.5% from the same time last year, with New York reporting the largest annual increase at 9%, followed by San Diego and Las Vegas, at 8.7% and 8.5%, respectively.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 7:

• New Listings decreased 0.4% to 1,422
• Pending Sales increased 10.1% to 765
• Inventory increased 12.6% to 9,748

FOR THE MONTH OF AUGUST:

• Median Sales Price increased 2.4% to $389,000
• Days on Market increased 21.2% to 40
• Percent of Original List Price Received decreased 1.3% to 98.7%
• Months Supply of Homes For Sale increased 17.4% to 2.7

All comparisons are to 2023

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

For Week Ending August 31, 2024

49.2% of mortgaged residential properties in the U.S. were considered equity rich—having at least 50% equity in one’s home–in the second quarter of 2024, according to ATTOM’s Q2 2024 U.S. Home Equity and Underwater Report. This is an increase from the previous quarter, when 45.8% of mortgaged homes were considered equity-rich, with the largest quarterly increases found in lower-priced markets in the South and Midwest regions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 31:

• New Listings decreased 10.7% to 1,096
• Pending Sales decreased 8.5% to 870
• Inventory increased 12.7% to 9,842

FOR THE MONTH OF JULY:

• Median Sales Price increased 2.7% to $385,000
• Days on Market increased 24.7% to 36
• Percent of Original List Price Received decreased 1.3% to 99.5%
• Months Supply of Homes For Sale increased 18.2% to 2.6

All comparisons are to 2023

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

For Week Ending August 24, 2024

U.S. housing starts fell 6.8% month-over-month and 16.0% year-over-year to a seasonally adjusted annual rate of 1,238,000 units, according to the U.S. Census Bureau. Building permits also declined as of last measure, sliding 4% month-over-month to a seasonally adjusted annual rate of 1,396,000 units. Analysts say Hurricane Beryl, along with elevated interest rates in July, likely impacted construction activity.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 24:

• New Listings decreased 3.9% to 1,268
• Pending Sales decreased 9.2% to 845
• Inventory increased 13.6% to 9,793

FOR THE MONTH OF JULY:

• Median Sales Price increased 2.7% to $385,000
• Days on Market increased 24.1% to 36
• Percent of Original List Price Received decreased 1.3% to 99.5%
• Months Supply of Homes For Sale increased 18.2% to 2.6

All comparisons are to 2023

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

For Week Ending August 17, 2024

The number of homes for sale continues to improve nationwide, marking the ninth straight month of growth. According to Realtor.com’s July 2024 Monthly Housing Market Trends Report, there were 36.6% more homes on the market in July compared to the same period last year. Prospective buyers, especially first-time homebuyers, will be pleased to know the growth in homes priced between $200,000 – $350,000 jumped 47.3% year-over-year, outpacing all other price categories.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 17:

• New Listings increased 3.1% to 1,320
• Pending Sales decreased 5.4% to 925
• Inventory increased 14.4% to 9,783

FOR THE MONTH OF JULY:

• Median Sales Price increased 2.7% to $385,000
• Days on Market increased 24.7% to 36
• Percent of Original List Price Received decreased 1.3% to 99.5%
• Months Supply of Homes For Sale increased 18.2% to 2.6

All comparisons are to 2023

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