**Effective March 24, MAR’s office hours have changed. VIRTUAL (phone, online) 8:00 a.m. – 4:30 p.m. Monday – Friday | PHYSICAL/IN-PERSON 9:00 a.m. – 1:00 p.m. Thursdays Only**
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March 30, 2020 | Tags: COVID-19Market DataMarket Research Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market 3-30-2020 Welcome to another special weekly update from the MAR Research corner, where we cover the latest major market metrics and how they’re impacted by the new Coronavirus. The latest showings numbers updated through 3-29-20 illustrate a significant decline in activity. In fact, showings volume is now consistent with early-January levels. It appeared as though activity… Read More
March 30, 2020 | Tags: Weekly Market Activity Reports Weekly Market Activity Report for Week Ending March 21 This week Fannie Mae, Freddie Mac, and the FHA suspended all foreclosures and evictions for 60 days in response to the continued COVID-19 outbreak. Further, the Federal Housing Finance Agency (FHFA) annouced that borrowers with loans backed by Fannie Mae and Freddie Mac who face financial difficulties due to COVID-19 may be able to suspend… Read More
March 26, 2020 | Tags: Impact of MN Governor’s Stay at Home Order on REALTORS® Minnesota Governor Walz today issued Emergency Executive Order 20-20 directing Minnesotans to stay at home to help stop the spread of COVID-19. The order, which is in effect as of 11:59 p.m. Friday, March 27, 2020 through 5:00 p.m. Friday, April 10, 2020, generally requires businesses and operations to cease activities within Minnesota unless the… Read More
March 25, 2020 | Tags: Announcements Message from NAR Leadership 3-24-2020 Our country is in the throes of something unprecedented. No one could have imagined or planned for the events of the past two weeks. We are so proud of our talented and devoted staff and leadership team for keeping NAR fully operational in support of our members while working remotely and weathering the near total… Read More
March 25, 2020 | Tags: COVID-19 MAR Coronavirus Update 3-23-2020   With each day comes new information about how the real estate industry is being impacted by this invisible threat to our health and economic prosperity. We know it’s not easy, but we are here for you now more than ever and are striving to bring you the news you need to know to weather… Read More
March 24, 2020 | Tags: Market DataMarket ResearchWeekly Market Activity Reports Weekly Market Activity Report for Week Ending March 14 and the Week of March 15   For the most recent market numbers, please see the post: Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market. After hitting a record low last week, rates on 30-year fixed-rate mortgages rose slightly this week according to Freddie Mac. A combination of an increase in rates in the bond market and high… Read More
March 24, 2020 | Tags: COVID-19Market DataMarket Research Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market First off – we hear you. You and your clients have questions about how recent events might be impacting the market. And even though we find ourselves meandering the same complex web of rapidly changing information that you are, we are committed to analyzing and sharing the latest trends we see from the data. Particularly… Read More
March 20, 2020 | Tags: COVID-19 MAR Coronavirus Update 3-20-2020   We know it's not business as usual, but many of us are still working to serve our clients and communities. The industry, with its cyclical markets, has endured challenges before but there is always an end to even the most difficult economic environments. As with previous challenges, Minneapolis Area REALTORS® will continue to support… Read More
March 20, 2020 | Tags: Showings decline in Twin Cities amid coronavirus concerns New data reveals fewer residential showings across most price ranges (March 19, 2020) – According to new data from the Saint Paul Area Association of REALTORS® and the Minneapolis Area REALTORS®, the number of Twin Cities residential real estate showings declined in most price ranges during the week ending March 17 compared to the previous… Read More
March 17, 2020 | Tags: COVID-19 MAR Coronavirus Update 3-17-2020 Coronavirus Update 3-17-2020 As new developments with the coronavirus (COVID-19) arise, Minneapolis Area REALTORS® is committed to providing members the latest information on our response to help protect the well-being of members and staff. MAR is taking several precautionary steps to ensure business continuity while also protecting health. Following the CDC’s 3-15-2020 recommendations, MAR has… Read More
March 17, 2020 | Tags: COVID-19 MAR Extends Class & Event Cancellation Through May 10  ***Following CDC guidance on 3/15/20, MAR will extend its Board decision to cancel all in-person classes, meetings and events through May 10, 2020.***  Due to recent developments surrounding the coronavirus (COVID-19) and its spread, MAR is cancelling all in-person classes, meetings and events through May 10. The Board took the action as a proactive measure to protect the health of its members and staff. MAR is continually monitoring the situation… Read More
March 16, 2020 | Tags: Weekly Market Activity Report for Week Ending March 7 A report released this week from property management software firm RealPage predicts a total of 371,000 new apartments to enter the market in 2020, which would be the highest level across the country's 150 largest apartment markets in three decades. Nationwide there is still a significant housing shortage and so increases in any housing type… Read More
March 13, 2020 | Tags: AnnouncementsCOVID-19 MAR Cancels Classes & Events Effective Immediately Coronavirus Update 3-12-2020 Due to recent developments surrounding the coronavirus (COVID-19) and its spread, the MAR Board of Directors today voted to cancel all in-person classes, meetings and events through March 31. The Board took the action as a proactive measure to protect the health of its members and staff. MAR is continually monitoring the… Read More
March 10, 2020 | Tags: Weekly Market Activity Reports Weekly Market Activity Report for Week Ending February 29 The U.S. Commerce Department reported this week that new-home sales rose 7.9% in January to a seasonally adjusted annual rate of 764,000 units, which is 18.6% higher than a year ago and the highest monthly sales pace since July 2007. While new-home sales are increasing, new-home inventories fell 6.6% from a year ago and are… Read More
March 7, 2020 | Tags: New Members Report - February 2020 February 2020 Membership Report In February MAR added a total of 112 new members including affiliates, non-member licensees and reinstating members. The total February MAR membership was 9097 including affiliate and non-member licensees, reflecting a net increase of 3.06% in membership compared to February 2019. The total February MLS membership was 9961 which includes unlicensed… Read More