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May 22, 2020 |
Record high showings the bright spot in April housing numbers
Buyer interest remains strong amid decline in listings and pending sales (May 21, 2020) – According to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, both buyer and seller activity was down in April, but the number of residential showings has reached a new high for the year.…
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May 18, 2020 |
Weekly Market Activity Report Week Ending May 9
This week ATTOM Data Solutions released their Q1 2020 U.S. Home Equity and Underwater Report, showing that just over one in four homeowners have at least 50% equity in their homes. The Mortgage Bankers Association reported that mortgage applications were up again last week, which is further sign of strengthening buyer interest as much of…
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May 11, 2020 |
Market Impact of CV-19 | 05-11-2020
Hello and thanks for joining us on another weekly data adventure where we track the impact of COVID on the residential housing market. This week we'll feature information from our weekly report as well as some of our showings trends and buyer and seller activity by price point. We reached a major milestone in overall…
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May 11, 2020 |
Weekly Market Activity Report Week Ending May 2
The Mortgage Bankers Association reported a 12% increase in mortgage applications last week, reversing a trend of falling activity due to the COVID-19 pandemic. While a positive sign of buyer interest and future home buying activity, application volume was still 20% lower than a year ago. Initial unemployment claims came in at a little more…
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May 4, 2020 |
Market Impact of CV-19 | 05-04-2020
Hello and thanks for joining us on another weekly data adventure where we track the impact of the pandemic on the residential housing market. This week's edition is truly one "for the people." Every one of today's data visualizations is based on information that every licensed agent can access. In other words, with a little…
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May 4, 2020 |
Weekly Market Activity Report for Week Ending April 25
While the initial unemployment insurance claims number was down from last week, claims remain at a high level with over 4.4 million people filing for the first time in the latest Department of Labor report. Weekly initial claims are likely to continue to decrease in coming weeks while still remaining significantly elevated. Mortgage rates have…
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April 29, 2020 |
Media Contacts and Resource
Media Inquiries Telly Mamayek, VP of Communications and Engagement O: 952.988.3138 C: 952.594.5672 TellyM@mplsrealtor.com Market Data David Arbit, Director of Research and Economics 952.988.3150 DavidA@mplsrealtor.com Logos and Usage Guidelines REALTOR® Logo REALTOR® Logo Guidelines Minneapolis Area REALTORS® Logo Minneapolis Area REALTORS® Style Guide
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April 27, 2020 |
Market Impact of CV-19 | 04-27-2020
Welcome back to another weekly edition of our special market analysis where we attempt to measure and visualize the impact of CV-19 on the housing market. This week we begin with showing activity, which is one of the most reliable leading indicators of demand (mortgage applications are another good one). Since "bottoming" around the first…
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April 20, 2020 |
Market Impact of CV-19 | 04-20-2020
Hello and welcome back to another edition of our weekly market analysis where we use showing data and other indicators to measure the impact of CV-19 on the housing market. This week we again begin with new listings and pending sales straight from our Weekly Market Activity Report. First up is our new listings trend…
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April 17, 2020 |
A silver lining: Some early signs of turnaround in showings
Twin Cities home buyer activity is recovering amid safe REALTOR® practices (April 17, 2020) – According to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, the number of Twin Cities residential real estate showings displayed the first signs of a turnaround since they began declining during the onset…
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April 13, 2020 |
Market Impact of COVID-19 | 4-13-2020
Welcome back to another weekly market update. Every week we utilize showing data and other indicators to measure the impact of CV-19 on the housing market. This week we begin with new listings and pending sales straight from our Weekly Market Activity Report. The 2020 new listings trend (in blue) began to level out somewhat…
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April 6, 2020 |
Market Impact of COVID-19 | 4-6-2020
It's Monday, which means it's time for another special weekly market update from the MAR Research desk. Let's start at a high level and look at year-over-year change in new listing and pending sales activity. Some of our other research looks at change in activity from week-to-week, but our Weekly Market Activity Report (first two…
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March 30, 2020 |
Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market 3-30-2020
Welcome to another special weekly update from the MAR Research corner, where we cover the latest major market metrics and how they’re impacted by the new Coronavirus. The latest showings numbers updated through 3-29-20 illustrate a significant decline in activity. In fact, showings volume is now consistent with early-January levels. It appeared as though activity…
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March 24, 2020 |
Weekly Market Activity Report for Week Ending March 14 and the Week of March 15
For the most recent market numbers, please see the post: Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market. After hitting a record low last week, rates on 30-year fixed-rate mortgages rose slightly this week according to Freddie Mac. A combination of an increase in rates in the bond market and high…
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March 24, 2020 |
Measuring the Impact of COVID-19 on Twin Cities Residential Housing Market
First off – we hear you. You and your clients have questions about how recent events might be impacting the market. And even though we find ourselves meandering the same complex web of rapidly changing information that you are, we are committed to analyzing and sharing the latest trends we see from the data. Particularly…
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March 20, 2020 |
Showings decline in Twin Cities amid coronavirus concerns
New data reveals fewer residential showings across most price ranges (March 19, 2020) – According to new data from the Saint Paul Area Association of REALTORS® and the Minneapolis Area REALTORS®, the number of Twin Cities residential real estate showings declined in most price ranges during the week ending March 17 compared to the previous…
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February 22, 2020 |
Favorable rates and weather spur home buying in Twin Cities
Latest housing report also shows falling inventory and rising prices According to the latest housing report from the Minneapolis Area REALTORS® and the Saint Paul Association of REALTORS®, Twin Cities residential real estate started 2020 on solid but still uneven footing. Buyers were eager to ignite the spring market early, spurred by incredibly low mortgage…
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February 18, 2020 |
Weekly Market Activity Report for Week Ending February 8
The impact of the spread of Coronavirus continues to grow as the 30-year fixedrate mortgage fell to 3.51% last week. Lawrence Yun, chief economist at the National Association of REALTORS®, explained that the upper-end of the housing market may soften with the temporary loss of Chinese buyers. "China has been the most important source of…
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February 11, 2020 |
Weekly Market Activity Report for Week Ending February 1
A newly released report from the U.S. Census Bureau shows in Q4 2019 the national homeownership rate rose to 65.1%. This is the highest level since Q3 2013 when the homeownership rate was 65.3%. For perspective, the national homeownership rate since 2000 peaked at 69.1% in Q1 2005 and was at its lowest at 62.9%…
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February 6, 2020 |
Despite tight market Twin Cities real estate activity up in 2019
The Twin Cities housing market continued to show steady growth in 2019 according to the annual market wrap-up from the Minneapolis Area REALTORS® and the St. Paul Area Association of REALTORS®. At a joint news conference in St. Paul, the associations announced a growing economy, favorable rates and a persistent scarcity of homes for sale…
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February 3, 2020 |
Weekly Market Activity Report for Week Ending January 25
CoreLogic's latest Single-Family Rent Index report saw the cost of renting single-family homes, including condos, up 3% in November 2019 compared to November 2018. According to the report, rent prices started climbing in 2010 and have stabilized around an annualized rate of 3% since early 2019. With the cost of rent continuing to trend upward,…
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January 22, 2020 |
Weekly Market Activity Report for Week Ending January 11, 2020
Freddie Mac reported that the average 30-year fixed-rate mortgage dropped to 3.64% this week, the lowest level in three months and down from 4.45% one year ago. Additionally, conforming and FHA loan limits have increased for 2020. Increased loan limits coupled with low rates, will give more buyers the ability to purchase a wider range…
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January 14, 2020 |
Weekly Market Activity Report For Week Ending January 4, 2020
With the start of the New Year, the real estate market turns more active across most of the country. Sellers connect with agents, resulting in a pop of new listings, followed by renewed interest by buyers, which leads to an increase in pending sales. This pattern is seen every year and 2020 should be no…
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January 7, 2020 |
Weekly Market Activity Report For Week Ending December 28, 2019
Data from the Census Bureau's Survey of Construction (SOC) and the NationalAssociation of Home Builders shows that 62.5 percent of all new construction homes started in 2018 were built as part of a community or homeowner's association, up from 47.6% in 2009. These associations are typically created when the developments are built to maintain common…
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November 19, 2019 |
Listings, Sales, Prices: All Rise
The Twin Cities real estate market started the fourth quarter of 2019 on a strong note with buyer and seller activity rising in October compared to 2018. Buoyed by historically low interest rates, the number of new listings and pending sales rose last month and the median price of a home also increased. New listings…
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November 18, 2019 |
Weekly Market Activity Report For Week Ending November 9, 2019
For Week Ending November 9, 2019 With the stock market reaching record highs, continued low unemployment, and low mortgage rates, many signs in the US economy remain strong. However, total household debt has been rising for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous peak of $12.68 trillion in 2008. While…
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October 29, 2019 |
Smarties and Data Nerds, have we got a treat for you!
Hello SMARTIES and Data NERDS (No CRYBABYs and AIRHEADS here!) - We wanted to provide you with a sweet market update before Halloween. Although we don't compile our official forecast until we have annual data, we do have a pretty good sense of where things stand. Despite some growth recently, inventory remains an obstacle since…
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October 28, 2019 |
Weekly Market Activity Report For Week Ending October 19, 2019
For Week Ending October 19, 2019 While the U.S. Commerce Department reported that total housing starts dropped 9.4% month over month in September, that drop was focused on the apartment and condo segment while single-family housing starts actually rose .3%. Throughout much of the country, the continued low level of housing inventory is constraining sales…
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October 21, 2019 |
Weekly Market Activity Report For Week Ending October 12, 2019
For Week Ending October 12, 2019 In the last month, mortgage rates have fallen to their lowest monthly average in more than three years, and now Fannie Mae is predicting that continued low rates, and possibly lower rates, are expected in 2020. These historically low mortgage rates have and will continue to support buyer demand…
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October 17, 2019 |
Sales, prices still rising despite some changes this year
The latest numbers for Twin Cities residential real estate show a stable market with some ongoing signs of transition. Prices are still rising, supply is still tight, and demand has recovered even while market times have lengthened. Even though more buyers are closing on homes, the urgency has subsided somewhat. Days on market rose 2.4…
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October 15, 2019 |
New report shows proximity to public transit increases property values in the Twin Cities
Property located within a half mile of Minneapolis-St. Paul’s public transit systems is worth 4% more than similar properties not in close proximity to public transportation, according to a joint report released today by the National Association of REALTORS® (NAR) and the American Public Transportation Association (APTA). The report found these higher property values are…
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October 14, 2019 |
Weekly Market Activity Report For Week Ending October 5, 2019
For Week Ending October 5, 2019 With the 30-year fixed-rate mortgage approximately one percentage point lower than a year ago according to Freddie Mac, buyers are actively taking advantage. Home refinancing is also going strong and overall mortgage demand, which includes purchase mortgages as well as refinancings, is up 50% from a year ago. Lower…
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October 7, 2019 |
Weekly Market Activity Report For Week Ending September 28, 2019
For Week Ending September 28, 2019 The Commerce Department reported sales of newly built homes nationwide have surged 18% compared to a year ago and housing starts and building permits reached a 12-year high in August. This surge in both sales and new construction shows strong market confidence by both buyers and builders. However, further…
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September 23, 2019 |
Weekly Market Activity Report For Week Ending September 14, 2019
For Week Ending September 14, 2019 With kids back in school and the weather beginning to cool, the housing market begins its annual cooldown as well. With buyer and seller activity remaining strong, it will be at a little more relaxed pace than during the late spring and summer. While Halloween decorations may be adorning…
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September 18, 2019 |
Things still feeling pretty stable out there, thanks for asking
With two-thirds of the year in the books, we’re getting a clearer picture of where the housing market stands. The latest numbers for Twin Cities residential real estate show stability along with signs of deceleration. The median sales price continued to rise, landing at $286,800 for the month. Pending sales—a measure of signed contracts and…
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September 16, 2019 |
Weekly Market Activity Report For Week Ending September 7, 2019
For Week Ending September 7, 2019 The White House has released a plan to broadly overhaul the housing finance system, including the re-privatization of Fannie Mae and Freddie Mac and reforms to federal agencies involved with financing substantial portions of the mortgages made every year. These changes will affect the cost and availability of loans…
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September 9, 2019 |
Weekly Market Activity Report For Week Ending August 31, 2019
For Week Ending August 31, 2019 Recent mortgage rate declines may provide a small tailwind as we enter the fall housing market, giving buyers a bit more buying power and a little more incentive to lock in a home purchase. However, stock market volatility and concern of a wider economic slowdown in the coming year…
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September 3, 2019 |
Weekly Market Activity Report For Week Ending August 24, 2019
For Week Ending August 24, 2019 Lack of affordable inventory has been a key story in real estate in the last few years. There is a growing consensus suggesting the U.S. economy could be entering a recession, and some wonder whether this could lead to an adjustment in housing prices. However, this scenario is unlikely…
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August 26, 2019 |
Weekly Market Activity Report For Week Ending August 17, 2019
For Week Ending August 17, 2019 As families across the U.S. enjoy the last few weeks of summer before the start of the school year, it seems that the real estate market is seeing an infusion of new energy that is partially offsetting the expected seasonal slowdown. Further decreases in housing inventory and month's supply…
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August 19, 2019 |
Weekly Market Activity Report For Week Ending August 10, 2019
For Week Ending August 10, 2019 As July data roll in, more economists wonder whether we are seeing the signs of an economic slowdown. Yet that would not necessarily imply a slowdown in the housing market. While July's existing home sales fell below analyst expectations, consumer confidence in housing reached new highs as mortgage rates…
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August 19, 2019 |
Inventory and Interest Rates Likely Driving Sales Growth
The current economic expansion recently became the longest on record, but it’s showing its age. Concerns around slowing growth have spiked amidst new economic data and gyrations in equity markets, but it’s also created opportunities for home buyers. The upside is that mortgage rates have fallen yet again as investors flock to the safety of…
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August 12, 2019 |
Weekly Market Activity Report For Week Ending August 3, 2019
For Week Ending August 3, 2019 While financial markets are becoming more volatile in recent weeks, national and regional real estate indicators are sending mixed signals. For the first time in seventeen months, July pending sales saw moderate gains over the previous year nationally. At the same time, home prices continue to be at or…
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August 5, 2019 |
Weekly Market Activity Report For Week Ending July 27, 2019
For Week Ending July 27, 2019 As we await July results, the June numbers and preliminary July indicators suggest that current trends in most real estate markets are likely to continue. Mid-to-lower priced segments continue to experience imbalances favoring sellers, leading to steady year-over-year increases in price, outpacing inflation in many markets. Although the Fed…
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July 22, 2019 |
Weekly Market Activity Report For Week Ending July 13, 2019
For Week Ending July 13, 2019 Every year during the week of Independence Day, real estate markets across the country slow down as buyers, sellers and real estate professionals take some time off during the height of summer to spend time with friends and family. This year continued that tradition, except that new listings declined…
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July 18, 2019 |
Some mixed signals but market fundamentals remain intact
In the face of mixed signals, assessing market health can be a challenge. The economy remains healthy, mortgage rates are outrageously low and yet sales aren’t rising. That’s in part because we simply haven’t built enough homes to keep pace with the demand. Despite attractive mortgage rates, the supply of available homes is so tight…
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July 15, 2019 |
Weekly Market Activity Report For Week Ending July 6, 2019
For Week Ending July 6, 2019 The order of the day is market balance between buyer and seller interests. While true that there may not be as many homes for sale to choose from and that prices are on the high end for the average first-time home buyer, there are considerations for sellers as well.…
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July 8, 2019 |
Weekly Market Activity Report For Week Ending June 29, 2019
For Week Ending June 29, 2019 The summer selling season is progressing with plenty of buying and selling activity thus far, thanks to a healthy economy that has consumers willing to spend their hard-earned money on the things they desire, even if it's more expensive than it was a few years ago. This has proven…
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July 1, 2019 |
Weekly Market Activity Report For Week Ending June 22, 2019
For Week Ending June 22, 2019 Persistently low mortgage rates and slower price increases have combined with economic growth, low unemployment, wage improvement and consumer confidence to keep home buyers in the market, despite insufficient supply. Builders have not made enough new homes for several years, and, thus, national housing inventory is extremely tight. The…
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June 18, 2019 |
Early 2019 Weakness Proving Temporary; Market Back On Track
There have been two disruptions to the housing market over the last nine months, but their effects are proving short-lived. First, a sudden increase in interest rates in late 2018 weighed on December and January sales activity. Second, record snow and the subsequent melt in February and March of this year weighed on sales activity…
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June 18, 2019 |
Weekly Market Activity Report For Week Ending June 8, 2019
For Week Ending June 8, 2019 In terms of relative balance between buyer and seller interests, residential real estate markets across the country continue to perform well on a stage that includes actors such as heightened consumer confidence, wage increases, low unemployment and an economic expansion that is on the verge of being the longest…
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June 10, 2019 |
Weekly Market Activity Report For Week Ending June 1, 2019
For Week Ending June 1, 2019 Despite home prices that seem to be creeping ever upward like unchecked crabgrass, pending sales have been performing well, and new listings are generally keeping up with demand in a manner that is propelling the housing industry forward into weed-free pastures. The Federal Reserve considers 2.0% a healthy inflation…
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June 3, 2019 |
Weekly Market Activity Report For Week Ending May 25, 2019
For Week Ending May 25, 2019 The venerable open house is a home-selling marketing tactic that is as old as the business of real estate. Put arrow signs up on busy street corners; buy some balloons; lay out flyers and snacks; welcome the stream of curious lookie-loos that traipse through the home. Many REALTORS® skip…
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May 28, 2019 |
Weekly Market Activity Report For Week Ending May 18, 2019
For Week Ending May 18, 2019 There is a stillness in the air during this spring's housing market, and not the foreboding kind that precedes a scary moment in a horror film or a major weather event, but rather a sameness to the springs of the last few years. Prices are still edging upwards and…
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May 22, 2019 |
Prices rising, pending sales stable amidst market rebalancing
Gardeners aren’t the only ones struggling with spring weather this year. The season’s late start and temperature swings suppressed housing market activity early this year, but those effects are moderating. The latest numbers for Twin Cities residential real estate show some strength amidst ongoing signs of change. Prices reached a new record of $281,000. New listings…
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May 20, 2019 |
Weekly Market Activity Report For Week Ending May 11, 2019
For Week Ending May 11, 2019 There is no such thing as a national real estate market. When the median sales price of homes for sale in San Francisco ($1.6 million) are compared to the median annual household income in Youngstown, Ohio ($26,295), it is especially evident. National news outlets will report on housing stories…
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May 13, 2019 |
Weekly Market Activity Report For Week Ending May 4, 2019
For Week Ending May 4, 2019 The national chatter over the past couple of weeks has been about royal babies, exciting NBA and NHL playoff games, heightened talk of higher tariffs for China, lackluster tech IPOs and, of course, who will sit on the Iron Throne. Mixed in with those conversations have been thousands of…
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May 6, 2019 |
Weekly Activity Report For Week Ending April 27, 2019
For Week Ending April 27, 2019 The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to…
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April 29, 2019 |
Weekly Market Activity Report For Week Ending April 20, 2019
For Week Ending April 20, 2019: Despite one of the latest snowfalls in recent memory in places like North Dakota, Idaho, Colorado, Wisconsin and Illinois, among other Western and Midwestern states, house hunters in these locales and other warmer places do not seem particularly phased by wintry or wet weather. The spring market has sprung,…
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April 22, 2019 |
Weekly Market Activity Report For Week Ending April 13, 2019
For Week Ending April 13, 2019 Housing activity is on the upswing after a slow start to the year. Showings, new listings and pending sales are increasing across much of the country, and inventory is straining to keep pace with demand. These pivotal weeks of the spring market are worth watching with extra care, as…
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April 18, 2019 |
Buyer and seller activity down; weather partly to blame
If February was the month of record snowfall, March was the month of record wet basements. The effects of extreme weather continue to impact the market. Despite that, the latest numbers for Twin Cities residential real estate show some strength amidst ongoing signs of change. Prices continued to climb, reaching a new record. New listings…
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April 15, 2019 |
Weekly Market Activity Report For Week Ending April 6, 2019
For Week Ending April 6, 2019 New listings finally started to perk up across the nation last week, effectively launching residential real estate into the springtime selling season. Much has been said and written about the slow launch of new homes for sale in what was anticipated to be a year of rising inventory. Mother…
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April 8, 2019 |
Weekly Market Activity Report For Week Ending March 30, 2019
For Week Ending March 30, 2019 The national unemployment rate held firm at 3.8 percent for the second month in a row, which is good news for an economy that has shown signs of slowing down during the first three months of 2019. Hiring and wage gains have both been below expectations, retail sales dropped…
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April 1, 2019 |
Weekly Market Activity Report For Week Ending March 23, 2019
For Week Ending March 23, 2019 As new listings continue to fail to gain traction and inventory struggles to keep pace with the already low figures from last year, one begins to wonder if the U.S. is poised for a real estate slowdown. Some observers are seeing this as an inevitability, as investors price out…
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March 25, 2019 |
Weekly Market Activity Report For Week Ending March 16, 2019
For Week Ending March 16, 2019 The Federal Reserve recently announced that interest rates will remain steady and that further rate hikes are not planned for 2019. Given that the federal funds rate has increased nine times over the past three years, this is welcome news for consumers carrying high credit card balances. The overall…
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March 22, 2019 |
The Skinny - February 2019 Available
https://www.youtube.com/watch?v=EbRHuQxQWAQ VIEW ALL VIDEOS
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March 19, 2019 |
Extreme February Weather Leaves Dent on Residential Market Stats
Winter sports enthusiasts likely enjoyed the snowiest February on record more than those attempting to buy and sell homes. Even so, the latest numbers for Twin Cities residential real estate show some strength amidst ongoing signs of change. Sellers showed a sizeable, weather-related decline in listing activity, while buyers entered into fewer contracts than last…
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March 18, 2019 |
Weekly Market Activity Report: For Week Ending March 9, 2019
For Week Ending March 9, 2019 New listings and overall housing inventory are still proceeding slower than last year in many markets across the U.S., and they are mostly trailing activity for last year, which was already rather low. Sales have also been slower than last year at this time in areas with lingering winter…
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March 11, 2019 |
Weekly Market Activity Report For Week Ending March 2, 2019
For Week Ending March 2, 2019 Sales totals have been mixed across the nation and dependent on what has been a considerably persistent wintry mix in the Great Plains, Midwest and Northeast. While this time of year brings unpleasant weather to all parts of the country, it has less impact on southern and western states.…
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March 4, 2019 |
Weekly Market Activity Report: Week Ending February 23, 2019
For Week Ending February 23, 2019 Two years ago, Millennials (born between 1981 and 1996) passed older generational groups to account for the most new mortgages. Today, Millennials also account for the most total dollar amount of those mortgages. Given the state of ongoing median sales price increases in the majority of the country, this…
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February 19, 2019 |
A mostly strong start to the year
The latest numbers show that 2019 was off to a good start for TwinCities residential real estate. Sellers produced another increase in listing activity, while buyers entered into more contracts than last January even while closed sales fell. Market times continued to shrink as the median sold home price rose compared to last year. After…
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