Archives for May 2021

For Week Ending May 1, 2021

The National Association of Home Builders’ latest Housing Trends Report found that in Q1 2021, 16% of American adults were looking to purchase a home in the next 12 months, up from 10% from a year ago and now at the highest level since Q1 2018. The Millennial generation saw the largest change in expectations year over year, with 32% planning to buy in the next 12 months, double the levels seen in Q1 2020.

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

• New Listings increased 10.8% to 1,730
• Pending Sales increased 25.5% to 1,534
• Inventory decreased 47.8% to 5,406

For the month of March:

• Median Sales Price increased 10.5% to $328,231
• Days on Market decreased 36.1% to 39
• Percent of Original List Price Received increased 2.7% to 101.9%
• Months Supply of Homes For Sale decreased 47.4% to 1.0

All comparisons are to 2020

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

For Week Ending April 24, 2021

A bit of good news this week on the home affordability front as the 30-year fixed-rate mortgage slipped below 3 percent to 2.97%, according to Freddie Mac. The benchmark 30-year fixed-rate mortgage rate, while still higher than a few months ago, remains more than one third of a percent less than the same time last year. The slight pullback in rates may be short lived, however, as Nadia Evangelou, senior economist for the National Association of REALTORS®, still expects rates to rise in the coming months.

In the Twin Cities region, for the week ending April 24:

• New Listings increased 14.5% to 1,687
• Pending Sales increased 38.4% to 1,509
• Inventory decreased 47.5% to 5,337

For the month of March:

• Median Sales Price increased 10.4% to $328,000
• Days on Market decreased 36.1% to 39
• Percent of Original List Price Received increased 2.7% to 101.9%
• Months Supply of Homes For Sale decreased 47.4% to 1.0

All comparisons are to 2020

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