The Weekly Pulse | 12-11-23 Tags: Weekly Pulse

Hello and welcome!  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 were flat compared to last year, down a hardly noticeable 0.1%. Interest rates declining from 8% toward 7% have undoubtedly helped. Four of nine price ranges displayed an increase in showings compared to the same week last year. The largest gain was in $1M+ (+48.2%) while the largest decline was in the $200-250K range (-16.0%).
  2. The $300-400K segment still comprised the largest share of all showings at 26.8%. Showing activity was relatively flat in this price range compared to last year (-0.2%).
  3. Homes priced between $600-800K also saw an impressive gain in showings, with 35.2% more activity than the same time last year.
  4. The movement in the latest numbers seem to reflect the change in mortgage rates and a reacceleration in luxury market activity after a brief pause.