Hello stats fans and data lovers near and far. These special weekly market updates put buyer and seller activity in context and capture any market shifts. They feature all the charts and data you’ve come to love, including showings by price point. Don’t forget to check out our regular Weekly Market Activity Report. Once you’ve logged in to Northstar, Infosparks is also an excellent resource for custom market research and data.
In the meantime, check out the latest showings numbers and market indicators.
Weekly insight: Buyers continue to demonstrate their relentless commitment to homeownership by pushing daily showings. Saturday March 20th had 10,394 showings across the metro as of this writing. That’s a daily record going back to January 2019, likely even earlier. Showing activity has already eclipsed the 2019 high point, and is preparing to surpass the 2020 highs.
Since we’re now comparing 2021 activity to a 2020 market heavily impacted by Covid, the year-over-year change is anything but apples-to-apples. Even so, it’s useful to see how much activity has recovered from the same week last year. It’s also useful to compare 2021 activity to a more “normal” year such as 2019, so watch for that in the coming weeks. Seller activity remains subdued as new listing activity trends below that of the prior three years. Buyer activity, however, is trending ahead of the prior three years (which the strong showings numbers anticipated). Rates on a 30-year fixed mortgage crept up slightly to around 3.09 percent, which is just a hair above the 50+ year low of 2.65 percent and well below the 50-year average rate of about 8.0 percent.
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, April 15, 2021 (2:00 PM to 3:00 PM).