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Weekly Market Activity Repost for Week Ending December 10 Tags: Market DataWeekly Market Activity Reports

Conforming loan limits on mortgages acquired by Fannie Mae and Freddie Mac will increase in most of the United States to $726,200 in 2023, up from $647,200 in 2022, according to the Federal Housing Finance Agency. Meanwhile, the conforming loan limit in high-cost areas will increase to $1,089,300, exceeding the $1 million dollar mark for the first time. The increases in loan limits will allow a larger group of borrowers to qualify for loans backed by Fannie Mae and Freddie Mac.

In the Twin Cities region, for the week ending December 10:

• New Listings decreased 4.1% to 686
• Pending Sales decreased 27.1% to 604
• Inventory increased 15.5% to 7,549

For the month of November:

• Median Sales Price increased 4.1% to $354,000
• Days on Market increased 33.3% to 40
• Percent of Original List Price Received decreased 2.6% to 97.2%
• Months Supply of Homes For Sale increased 41.7% to 1.7

FULL REPORT