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The Weekly Pulse | 1-2-24 Tags: Weekly Pulse

Hello and welcome! For the first time in 2024, let’s take the pulse of the Twin Cities housing market. 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:

  1. Showings have been rising recently, moving inversely to the to 30-year mortgage rate. There were nearly 10,000 showings during the week which was a 3.6% jump in showing activity compared to the same week last year. This reflects mortgage rates settling from over 8% to around 6.7%.
  2. Seven of nine price ranges had an increase in showings compared to a year ago. Homes priced between $200-250K and $300-400K had slightly fewer showings compared to last year.
  3. The largest gain in showings was on properties priced between $800K-1M, where they rose 89.2%. The largest decline in showings was in the $200-250K range where they fell 4.6%.
  4. New listings were down 6.1% while pending sales were down 7.4% compared to the same week last year.