Consumers are already starting to lean toward 2015, so let’s look ahead ourselves before we hit the weekly tabulations. With virtually no inflation to speak of, interest rates should remain low for the foreseeable future but could flirt with 5.0 percent toward the end of next year. Both new and existing inventory levels should rise – which is more of a continuation than a new development for many communities. Prices are also expected to increase but not by much, which should help first-time buyers. Job growth is likely to continue, and wage growth is expected to pick up.

In the Twin Cities region, for the week ending November 15:

• New Listings decreased 14.5% to 857
• Pending Sales decreased 1.6% to 749
• Inventory increased 3.5% to 16,692

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm.

In the Twin Cities region, for the week ending November 8:

• New Listings decreased 2.8% to 1,104
• Pending Sales increased 2.0% to 826
• Inventory increased 4.1% to 16,972

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

As many markets begin to prepare for colder weather or festive family gatherings, a familiar seasonal slowing will begin to creep into the weekly numbers. Yet housing activity can be expected to float along at a seasonally healthy pace like a fallen leaf on a lazy river. With no big, negative economic news on the horizon, reliable sales, price and inventory figures, though not flashy, are quite welcome.

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

• New Listings decreased 9.2% to 1,076
• Pending Sales decreased 6.2% to 940
• Inventory increased 5.7% to 17,760

For the month of October:

• Median Sales Price increased 7.2% to $209,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 10.8% to 4.1

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

In the buildup of anticipation for the season of pumpkin carving, caramel apple eating and haunted house touring, it came out that one number was spookily down. Homeownership is at its lowest point in 20 years and has been steadily dropping since the housing bubble years from 2004 to 2006. Interestingly, we are now at levels consistent with a healthy market. Also, rising rents should eventually give cause to more households seeking ownership positions. So-called bad news is good, especially in the dark days surrounding Halloween.

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

• New Listings increased 4.5% to 1,267
• Pending Sales decreased 10.4% to 861
• Inventory increased 5.5% to 17,894

For the month of September:

• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.