Hello and welcome! You’re in the right place. Here you’ll find an in-depth look at the latest housing market activity. In addition to our regular weekly report, these weekly and monthly charts go beyond some of the higher-level trends. Here’s what the latest data are telling us:
Metro-wide showing activity was down just about 12.0 percent from the same week last year.
Showings were down 18.0 percent for homes priced under $200 but up 12.3 percent for luxury properties priced at or over $1M.
The percentage of showings taking place on listings between $200-250K declined to 11.4 percent while the number of showings on $1M+ listings rose to 2.86 percent of all showings.
Hello and welcome! Thanks for stopping by. Here you’ll find an in-depth look at the latest housing market activity. In addition to our regular weekly report, these weekly and monthly charts go beyond some of the higher-level trends. Here’s what the latest data are telling us:
There was no price bracket that had more showings than the same week last year, but listings over $1M only had 9.1 percent fewer showings than last year.
The percentage of showings taking place on listings priced between $250-300K decreased from 17.7 to 16.0 percent. Listings priced between $300-400K increased from 27.5 to 29.0 percent of all showings.
Year-over-year showings are still down by about one third but the declines appear to have stabilized. 30-year mortgage rates are below 6.5 percent, levels not seen since early February.
Hello stats fans and data lovers near and far. These weekly market updates still feature the same charts and data you’ve come to love, but the in-depth analysis will be included in our monthly blogs instead of weekly. Don’t forget to check out our regular Weekly Market Activity Report. Once you’re logged into Northstar, Infosparks is also an excellent resource for custom market research and data.
Join MAR’s Director of Research and Economics, David Arbit, for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, August 20, 2020 (9:00 AM to 10:00 AM).
Hello stats fans and data lovers near and far. These weekly market updates still feature the same charts and data you’ve come to love, but the in-depth analysis will be included in our monthly blogs instead of weekly. Don’t forget to check out our regular Weekly Market Activity Report. Once you’re logged into Northstar, Infosparks is also an excellent resource for custom market research and data.
In the meantime, have a look at the latest showings numbers and market indicators. This week only features the market activity, but next week’s post will once again include the latest trends in showing activity.
Join MAR’s Director of Research and Economics, David Arbit, for a free monthly presentation and discussion on the Twin Cities real estate market Wednesday, September 23, 2020 (9:00 AM to 10:00 AM).
Hello SMARTYs and data NERDS (Not CRYBABYs and AIRHEADS) –
We wanted to provide a sweet market update before Halloween. Although we don’t compile our official forecast until we have annual data, we do have a pretty good sense of where things stand. Despite some growth recently, inventory remains an obstacle since it’s really not GOOD AND PLENTY. In fact, it’s still in pretty short supply. Sales and listing activity varies month-to-month and year-over-year, which will likely continue both NOW AND LATER. Prices remain strong (though not as elevated as the MILKY WAY), and are unlikely to decline in the foreseeable future–that wouldn’t be a FUN DIP. There is some evidence that we hit a slight SOUR PATCH earlier this year, but housing is not ready to ROLO-ver just yet. There’s really nothing that spooky in the numbers. If inventory expands, rates remain low and the economy cooperates, we could see a continued growth SPREE.
The Fed has stopped printing money like a JUNIOR MINT, but mortgage rates are still remarkably favorable. Rates are low enough to make even a non-farmer a JOLLY RANCHER. These low rates should be seen as a nice BIT-O-HONEY for buyers, but that could change (they aren’t an EVERLASTING GOBSTOPPER). Slowing global growth and trade WARHEADS are reasons for concern. The next recession is unlikely to be a WHOPPER like the last one.
No, things are not dire and no, the market does not need a LIFE SAVER. I can’t tell if this was a MILK DUD or just CANDY CORNy. We don’t mind being the LAUGHY TAFFY (SNICKER, SNICKER). Thanks for indulging us.
