The Skinny Blog

Announcements

Although 2010 included sales gains driven by a springtime tax credit, it also endured an extended decline after it expired. The year is summed up by a boom-and-bust tax credit, 55-year-low mortgage rates, record high affordability levels and a sluggish economic recovery. 2010 BY THE NUMBERS • 82,127 new homes introduced to the marketplace, down
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With the current round of figures, be mindful of the fact that we're entering a period of apples-to-oranges comparisons. Market activity was comparatively strong last year due to the approaching deadline for the 2009 tax credit. Combine that with a slowing sales season and buyers driven to enter contracts by April 30, 2010, and it
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The Twin Cities housing market continued to shuffle along in August much the way it did in July. As a result of buyer demand being displaced by the federal tax credit—which ended April 30 and moved the traditional Minnesota summer selling season to spring—sales activity fell sharply in August which caused inventory to grow. Predictably,
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May of this year marks the first time since August of 2005 where we've had five consecutive months of year-over-year median price increases. However, pending sales figures declined sharply in May. It is clear that the tax credit party is over and the hangover has truly set in. The May median sales price for the
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For the fourth consecutive month, home prices in the Twin Cities 13-county metropolitan area showed a year-over-year increase. We haven't seen four consecutive months of progressively increasing year-over-year growth since June 2004. The April median sales price of $169,800 was an impressive 11.0 percent increase from $153,000 last April. That's the strongest year-over-year increase since
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For the third consecutive month, home prices in the Twin Cities 13-county metropolitan area showed a year-over-year increase. We haven’t seen three consecutive months of progressively increasing year-over-year growth since June 2004.  The March median sales price of $165,000 was a healthy 7.1 percent increase from $154,125 last March. That’s the strongest year-over-year increase since
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  We sent out a news release today. Here's a rat-a-tat-tat-tat. (Get it? Bullet points!) | VIEW FULL NEWS RELEASE For the second consecutive month, home prices in the Twin Cities 13-county metropolitan area showed a year-over-year increase. We haven't seen back-to-back year-over-year increases since 2006. The February median sales price of $159,000 was a
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We sent out a news release last week. Highlights are given below in top 10 format because a lot of fancy communications experts say that you're more likely to look at data when presented in a top ten list. David Letterman has built a career around this notion. | VIEW FULL NEWS RELEASE After 41
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News Release Released to the News Today: Extremely heavy buyer activity and shrinking inventory led to strengthening Twin Cities home prices in November. The November median sales price of $170,000 was a slight increase from October—a rare occurrence in this month that typically marks the beginning of a temporary winter price swoon. This mark is
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Low mortgage rates, affordable supply and the home buyer tax credit kept home sales moving in October. There were 4,676 signed purchase agreements during the month, up 34.4 percent from a year ago—the 16th consecutive month of year-over-year increases in pending sales. The recent extension and expansion of the home-buyer tax credit should mean continued
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Buyer activity took a step up in September as the final days of the federal tax credit for first-time home buyers ticked toward a November 30 deadline, contrary to the typical September slowdown in the Twin Cities housing market. There were 4,986 signed purchase agreements during the month, up 23.5 percent from a year ago—the
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Home prices continue to show signs of strengthening in the Twin Cities housing market. The median sales price for the 13-county metro region in August was $175,000, down 12.5 percent from a year ago but up once again from July. From March 2009 through August 2009, the median sales price has grown from $154,125 to
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From the Department of Nice Surprises, we saw this come through the e-waves today: From: TDoyle@realtors.org [mailto:TDoyle@realtors.org] Sent: Wednesday, August 19, 2009 3:50 PMTo: tdoyle@realtors.orgSubject: A Brief Note from NAR Research Good afternoon.  By now, you have received your 2nd quarter NAR MLS Economic and Market Watch Reports.  We hope you and your members continue
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Buyer activity in the Twin Cities housing market continued its strong run in July. For the 13th consecutive month, there were more pending sales than there were a year ago. July saw 5,174 signed purchase agreements, up 16.0 percent from July 2008 and the strongest July showing since 2005. Of these sales, 43.6 percent were
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Flyover country. That is our label, no matter how many awards we win in Minneapolis for cleanest city or best place to raise a family or number of live theaters per capita. We can change our national perception if we can send someone to Real Estate Connect in San Francisco. That is our 50-word response
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Word on the street is that people like lists more than prose for receiving information they can digest with ease. This hurts my writerly heart, but, hey, I get it. We're busy people these days. Two hundred emails per day, 15 blogs to follow, 65 Facebook status updates, 450 Twitter feeds. Plus all the other
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Monthly news release time. This is what we had to say today… Traditional, non-lender-mediated homes increased their market share in May. The number of traditional home sales is growing. Only 43.0 percent of the pending sales in May were lender-mediated, compared to 59.4 percent in January. This decrease in lender-mediated market share brought the overall
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Mark Allen, MAAR's CEO, will be a panelist at Real Estate Connect in San Francisco, Aug 5–7, 2009. Because of our involvement, MAAR has secured a 50% discount off the regular price of attending this unbelievable networking event. Click here or on the image above to get started. The special link from here and the
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We released our monthly stats news release today. Here's what we said: April home sales in the Twin Cities were even stronger than March's upswing. There were 5,211 pending sales in April, up 23.8 percent from last April. This is the highest showing of signed purchase agreements in April since 2005 and the tenth consecutive
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We released our monthly stats news release today. Here's what we said: Twin Cities home sales kicked into a whole new gear in March, according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. This is more than just a seasonal shift. The 4,407
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We released our monthly stats news release today. Here's what we said: The Twin Cities housing market's oversupply of homes for sale is being reigned in at an accelerated pace. The number of new listings in February was 6,648, down 19.4 percent from February 2008. That's the 14th month of the last 15 to feature
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We released our monthly stats news release today. Here's what we said: Low mortgage rates and an ample supply of affordable properties kept January home sales strong despite a month of harsh weather. Pending sales during the month posted a figure of 2,827, an increase of 10.3 percent from last January. This is the eighth
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After two-plus years of a faltering market, a recent upswing in Twin Cities homes sales during the second half of 2008 is cause for some measured optimism heading into 2009. In the Twin Cities 13-county metro area, total pending sales for 2008 ended at 44,067, up 1.2 percent from 2007. This is the first year-over-year
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A combination of substantial declines in mortgage rates and the continued downward movement of home prices is leading to an unusually attractive affordability environment. Rates declined well into the 5 percent range in the last month—the best rates of 2008 and the most attractive since 2003. Add November’s tantalizingly low median sales price of $175,000—down
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There were 3,480 pending sales in October, a surprising 6.9 percent increase over October 2007. Closed sales were up 12.0 percent from last year for the same time period comparison. Year-to-date, pending sales are only 200 units behind this time last year. If these monthly year-over-year increases continue through the remainder of 2008, we will
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We put out a news release today, and these are the points at the heart of what we had to say: Buyers took advantage of attractive home prices and a sunsetting federal loan programs in September. 4,036 pending sales in September, which is 42.2 percent higher than the 2,839 posted in September 2007. Closed sales
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We released the monthly housing stats today for August 2008. Here’s the gist of what we had to say. Sales activity in the Twin Cities housing market continues to post healthy numbers. For the second consecutive month and only the third time in the last 39 months, pending sales posted a year-over-year increase. August saw
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Foreclosures and short sales (i.e., lender-mediated properties) don’t appear to be leaving the Twin Cities housing market anytime soon. These types of properties are going to be with us for awhile, and having accurate and detailed information on their impact is crucial for buyers and sellers. MAAR is proud to announce the release of the
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We did a news release today. It garnered some attention.Here is what we had to say: Signed purchase agreements in the Twin Cities housing market during July was higher than one year ago, posting a mark of 4,462 in July, an increase of 6.2 percent from July 2007. To put this in perspective, there has
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The MAAR Supply-Demand Ratio (SDR)—which we like to believe is a key Twin Cities housing benchmark—shows that the market is no longer charging headlong in the buyer’s favor. The SDR posts a July figure of 8.11, which means there will be 8.11 homes for sale for each buyer in the month of July. This is
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If you’re interested in sitting-in on a discussion amongst an impressive collection of players in the Twin Cities apartment and condominium markets, you’ll want to come to an event that the Real Estate Communications Group is holding this coming Wednesday at the Golden Valley Country Club. We’re helping to sponsor the event, which means we’ll
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There are fewer homes on the market today than there were a year ago. This is good news. It’s the first time that we have been able to report negative year-over-year movement in monthly inventory since we began tracking the figures in 2004. As for new listings, there were 9,436 of them in May 2008,
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There’s a unique opportunity coming up next week on May 28th to dig in to the meaty and complex issues of race relations, Fair Housing, diversity and more. From our website: ++++++++++++++++++ Creating Opportunities:Featuring the PBS Film, The House We Live InMay 28, 1:00 p.m. – 4:00 p.m.Film, popcorn and CEs! In this session, we
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Today MAAR released its monthly housing statistics press release. It said this and more: The median price values of homes in the Twin Cities housing market are showing signs of seasonal increase. The April median sales price of $204,500 represents the second consecutive month of monthly upward price movement, on the heels of seven consecutive
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Foreclosures and short sales have become topics of great interest over the past year. Providing data and statistics on the exact impact of these growing phenomena upon the regional housing market has, so far, proved challenging, with little yet produced on exactly how (and how much) these unfortunate events are affecting the buying and selling
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Pop quiz, hot shot: How many communities does "The 100"—our localized market tool—cover on a monthly basis? Your answer might’ve been "100," which, logically, I suppose is an excellent educated guess. But you’d be so wrong. Your other answer might’ve been "125" since you probably remember that we added 25 areas to our cadre of
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Today MAAR released its monthly housing statistics press release. It said this and more: The typical spring increase of new home listings for sale has not been as explosive as the record pace of the last few years. The number of new listings in March was 8,523, a healthy 17.0 percent decline from last March.
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With both the local and national housing markets experiencing prolonged, downward pressure on home values for the first time since The Great Depression, everyone and their mother is understandably curious about just how much less their home is worth this year, if at all. So the dataheads and number-crunchers and economists who make it their
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More fun with visuals! On January 16th, 2008 we helped put on a huge Residential Real Estate Summit, along with the three other Twin Cities REALTOR® associations and the Real Estate Communications Group. The event was a fascinating mix of people, with panels on a wide-ranging scope of subjects including market projections, new construction, lending
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The substantial corrective price declines first seen in January were further fleshed out in February, as the median sales price for the month of $195,060 is a decrease of 12.5 percent from the same month last year. There were 3,087 purchase agreements signed and 2,009 sales closed—down only 10.2 and 13.6 percent from last year,
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As some of you have probably noticed, we recently overhauled our entire website. This is something that most businesses do but once in a blue moon due to the time, effort and costs involved. Knowing that this was going to to be the website we’re stuck with for some time—for better or worse—we tried to
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HUD announced the new FHA mortgage limits created by the Fed’s economic stimulus plan and the winner is…the Minneapolis–St. Paul metro area! Why is this good news? FHA programs are now the best option for many buyers who fall short of meeting the downpayment and/or qualifying ratios required by conventional financing. With the amount that
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Hey! Look here! Now that we’ve got your attention, here’s the deal. If you’ve at all paid attention to the research we put out, then you probably already know that one of our most popular research products is the Annual Residential Real Estate Activity Report, released every year around this time. Around these parts, we
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