For Week Ending February 23, 2019

Two years ago, Millennials (born between 1981 and 1996) passed older generational groups to account for the most new mortgages. Today, Millennials also account for the most total dollar amount of those mortgages. Given the state of ongoing median sales price increases in the majority of the country, this should not come as a surprise. And given the positive state of the U.S. economy, finding the correct balance between positive sales figures and sales prices will be a dominant theme of 2019.

In the Twin Cities region, for the week ending February 23:

• New Listings decreased 25.0% to 949
• Pending Sales decreased 12.6% to 866
• Inventory decreased 3.0% to 8,093

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending February 16, 2019

The National Association of REALTORS® has reported in the last month that national existing-home sales and pending sales are both down in year-over-year comparisons, but that has not necessarily been a constant from market to market. While weather-related events have hampered some of the necessary machinations of making home sales, buyers have shown determination toward achieving their homeownership goals. This week has shown some sales strain in many markets, but spring is just around the corner.

In the Twin Cities region, for the week ending February 16:

• New Listings decreased 20.5% to 1,018
• Pending Sales decreased 10.5% to 810
• Inventory decreased 2.5% to 8,043

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending February 9, 2019

For the third of four weeks, it is worthwhile to mention the weather when discussing residential real estate in large portions of the U.S. After a relatively quiet December and January, February has turned in some impressively cold and snowy days that have stalled some buying and selling actions. That said, housing markets are proving to be resilient in the face of predictions of a tougher year for the industry. It’s early, but economic fundamentals remain positive.

In the Twin Cities region, for the week ending February 9:

• New Listings decreased 17.4% to 1,135
• Pending Sales decreased 13.9% to 765
• Inventory increased 1.2% to 7,966

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Inventory increased 6.7% to 1.6

All comparisons are to 2018

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

For Week Ending February 2, 2019

Despite weather events that have brought frigid temperatures and heavy snow to large swaths of the U.S., residential real estate markets have performed better than anticipated so far this year. While a complete downturn in sales and prices was not at all expected, some softening was anticipated. Instead, pending sales are performing well in many markets, while new listings are not experiencing any negative swings of concern.

In the Twin Cities region, for the week ending February 2:

• New Listings decreased 9.2% to 912
• Pending Sales increased 4.4% to 834
• Inventory increased 2.6% to 8,023

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 26, 2019

The unemployment rate rose to 4.0 percent last month, a seven-month high. This may prove to be a forgettable blip, as other economic indicators are showing continued strength in the job force, including 100 straight months of employment gains punctuated by the most hiring in 11 months. The construction sector had its best month of employment since last February. With the Fed holding off on further interest rate increases, 2019 is beginning favorably for residential real estate.

In the Twin Cities region, for the week ending January 26:

• New Listings increased 6.1% to 938
• Pending Sales increased 5.5% to 783
• Inventory increased 2.9% to 8,100

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 19, 2019

Although snow and cold have been affecting a sizable portion of the nation this January, the initial assessment of early-year weekly real estate trends indicates a healthy level of new listings in many housing markets – even in wintry locales. Pending sales figures are generally showing a healthy balance compared to last year at this time. Combined with favorable mortgage rates, these early indicators bode well for active real estate markets across the nation. Let’s look at what happened locally.

In the Twin Cities region, for the week ending January 19:

• New Listings increased 9.0% to 1,029
• Pending Sales decreased 7.2% to 695
• Inventory increased 2.1% to 8,029

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 12, 2019

The unemployment rate rose by 0.2 percent to finish December 2018 at 3.9 percent. Although the rate went up from the month prior, it was down by 1.2 percent compared to the same month last year. As the nation continues to wrestle with a partial government shutdown that has some people worried about the economy at large, it is important to note that the employment situation at large remains in a relatively strong position.

In the Twin Cities region, for the week ending January 12:

• New Listings increased 14.9% to 1,026
• Pending Sales increased 6.9% to 650
• Inventory increased 2.8% to 7,969

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 5, 2019

The turn of a calendar year often creates a desire to resolve to do something different. Weight loss through a combination of regular exercise and healthy eating is often at the top of the list, followed by learning a new skill, quitting smoking, reading more, spending more time with loved ones, getting more organized, traveling and saving money. Annual evidence indicates that a bump in listing and buying activity also occurs each January, which appears to be the case again in 2019 for much of the country.

In the Twin Cities region, for the week ending January 5:

• New Listings decreased 4.9% to 809
• Pending Sales increased 0.7% to 553
• Inventory increased 6.0% to 8,209

For the month of November:

• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Inventory increased 10.5% to 2.1

All comparisons are to 2018

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

For Week Ending December 29, 2018

Although the 2018 U.S. stock market had its worst losses in a decade, employers added 2.64 million jobs in 2018 – the best year since 2015 – as well as 312,000 jobs during December. In addition, average hourly earnings increased 3.2 percent, matching the October 2018 percentage that marked a nearly ten-year high. The unemployment rate rose to 3.9 percent from 3.7 percent but is still historically low. These combined events give the impression of an economy that remains ultimately optimistic but is also recalibrating.

In the Twin Cities region, for the week ending December 29:

• New Listings increased 22.2% to 297
• Pending Sales increased 11.5% to 514
• Inventory increased 0.2% to 8,608

For the month of November:

• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Inventory increased 10.5% to 2.1

All comparisons are to 2017

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

For Week Ending December 22, 2018

The last few weeks of the year provide an opportunity for buyers, sellers and real estate practitioners alike to spend time with the family and friends that make owning a home that much more special. It also provides a time to plan for the potential for marginal increases in average household wages, median sales prices for homes, mortgage rates and total available homes for sale in 2019.

In the Twin Cities region, for the week ending December 22:

• New Listings increased 11.1% to 469
• Pending Sales decreased 7.4% to 680
• Inventory increased at 9,053

For the month of November:

• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Inventory increased 10.5% to 2.1

All comparisons are to 2017

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