Tuesday, November 27, 2007
Weekly Market Activity Report
Despite recent favorable drops in mortgage rates and improvement in housing affordability, buyer activity remains slow in the Twin Cities housing market. For the week ending November 17, there were 545 new purchase agreements signed, down 17.7percent from the same week in 2006. As we enter the holiday season, sellers continue their annual pause, as the number of new listings on the market and the total number of homes for sale have been in a general seasonal decline for more than eight weeks. [where: 55405]
Wednesday, November 14, 2007
Weekly Market Activity Report
As mortgage rates decline and home sellers appear increasingly willing to accept moderate offers, home sales have picked up slightly in recent weeks. Newly signed purchase agreements (pending sales) for the week ending November 3 were behind last year at this time by only 13.6 percent. New listings on the market also increased, up 7.3 percent for the same time period comparison. This week's edition of MAAR's Weekly Market Activity Report features updated figures for several key metrics:
Days on Market Until Sale in October was 142 days, an increase of 20.3 percent from one year ago.
Percent of Original List Price Received at Sale declined further to 93.1 percent and should continue to fall until early 2008.
The November Housing Affordability Index increased dramatically to 138 due to declines in mortgage rates and home prices, an important trend for the long-term health and accessibility of our market.
Months Supply of Inventory declined slightly to 9.5 months due to the annual drop in the number of homes for sale that takes place in November. [where: 55405]
Days on Market Until Sale in October was 142 days, an increase of 20.3 percent from one year ago.
Percent of Original List Price Received at Sale declined further to 93.1 percent and should continue to fall until early 2008.
The November Housing Affordability Index increased dramatically to 138 due to declines in mortgage rates and home prices, an important trend for the long-term health and accessibility of our market.
Months Supply of Inventory declined slightly to 9.5 months due to the annual drop in the number of homes for sale that takes place in November. [where: 55405]
Monday, November 5, 2007
Weekly Market Activity Report
Weekly Market Activity Report
As the fall season progresses and we move toward winter, the number of homes for sale in the Twin Cities is in the midst of its annual decline. Total inventory in the 13-county region has fallen by almost 2,000 units in the last two months and should continue to drop through the remainder of 2007. Despite the seasonal dip, home sellers who choose to leave their homes on the market will still face a tough market, as the number of buyers is relatively low. Newly signed purchase agreements (pending sales) for the week ending October 20 were behind the same week last year by 18.1 percent. [where: 55405]
As the fall season progresses and we move toward winter, the number of homes for sale in the Twin Cities is in the midst of its annual decline. Total inventory in the 13-county region has fallen by almost 2,000 units in the last two months and should continue to drop through the remainder of 2007. Despite the seasonal dip, home sellers who choose to leave their homes on the market will still face a tough market, as the number of buyers is relatively low. Newly signed purchase agreements (pending sales) for the week ending October 20 were behind the same week last year by 18.1 percent. [where: 55405]
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