Spring Market Draws out Eager Buyers; Sellers Still on Hold Minneapolis, Minnesota (April 14, 2016) – With the spring market officially underway, both buyer and seller activity rose in March 2016 compared to last March. Buyers signed 5,861 new purchase agreements, pushing pending sales up a respectable 12.6 percent. Would-be sellers were still concerned about [...]
Buyer and Seller Activity Increase as Spring Market and Warm Weather Arrive Minneapolis, Minnesota (March 14, 2016) – February Pending sales rose 6.7 percent while new listings increased 3.0 percent. The all-too-familiar supply crunch continued as inventory levels fell 19.4 percent to 10,953 active properties. Prices continued their steady climb back towards 2006 levels. The [...]
Weather, Job Growth and Rates Boost November Market Activity Minneapolis, Minnesota (December 11, 2015) – With warmer than usual temperatures, impressive job and wage growth and still attractive interest rates, strong home purchase demand continued into November. Pending sales rose 18.1 percent to 3,497 signed contracts; new listings increased 11.5 percent to 3,785 homes. That’s [...]
Housing Continues to Delight as Summer Activity Starts to “Cool” Minneapolis, Minnesota (August 13, 2015) – After purchase demand reached a 10-year record high in June, the Twin Cities metropolitan housing market continued to delight in July. With the spring and summer peak buying season coming to a close, activity levels should begin to cool [...]
Pending and Closed Sales Both Reach Highest Level Since June 2005 Minneapolis, Minnesota (July 13, 2015) – The Twin Cities metropolitan housing market reached key milestones in June. Both pending purchase demand and closed unit sales officially reached 10-year highs. The last time demand was this strong was June 2005. The number of signed purchase [...]
Median Home Price Just Shy of Record High Amidst Strongest Demand in a Decade Minneapolis, Minnesota (June 11, 2015) – With the sole exception of inventory, every market metric showed continued improvement during May. The number of signed purchase agreements in the 13-county Twin Cities increased 19.5 percent to 6,228. That marks the highest May [...]
Minneapolis, Minnesota (June 11, 2014) – House hunters in the 13-county Twin Cities metropolitan area are finally getting more to choose from. Inventory levels were up 6.1 percent to 16,368 homes for sale in May 2014. This comes as new listings were up 3.0 percent to 8,572 and pending sales were down 9.0 percent to [...]
The same factors that catalyzed widespread market recovery in 2012 and 2013 are likely to continue in 2014, though perhaps at a more moderate pace. That's not a bad thing, since the market is returning to a stable, healthy state. Potential trends to watch for in 2014 include increased seller activity, more new construction and [...]
