MAR will be closed on Monday, May 27 in honor of Memorial Day. Regular hours and service will resume Tuesday, May 28.
News
Weekly Market Activity Report for Week Ending April 13 Tags: Market DataWeekly Market Activity Reports

Amid higher borrowing costs, mortgage rate buydowns have become an increasingly popular choice among homebuyers looking to save some money on the purchase of their next home. According to a recent study by Freddie Mac, about 58.8% of purchase borrowers paid discount points last year, up from 53.6% and 31.3% of purchase borrowers in 2022 and 2021, respectively. Regionally, borrowers in the Pacific and Mountain West were more likely to pay points compared to borrowers in the Midwest and parts of the Northeast.

In the Twin Cities region, for the week ending April 13:

• New Listings increased 9.4% to 1,487
• Pending Sales increased 13.7% to 995
• Inventory increased 15.7% to 7,270

For the month of March:

• Median Sales Price increased 2.8% to $366,000
• Days on Market decreased 6.9% to 54
• Percent of Original List Price Received increased 0.2% to 98.8%
• Months Supply of Homes For Sale increased 26.7% to 1.9

FULL REPORT