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Weekly Market Report

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For Week Ending September 7, 2024

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index hit a new all time high in June, rising 5.4% year-over-year, a slight decline from a 5.9% annual gain the previous month. The 20-City Composite was up 6.5% from the same time last year, with New York reporting the largest annual increase at 9%, followed by San Diego and Las Vegas, at 8.7% and 8.5%, respectively.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 7:

  • New Listings decreased 0.4% to 1,422
  • Pending Sales increased 10.1% to 765
  • Inventory increased 12.6% to 9,748

FOR THE MONTH OF AUGUST:

  • Median Sales Price increased 2.4% to $389,000
  • Days on Market increased 21.2% to 40
  • Percent of Original List Price Received decreased 1.3% to 98.7%
  • Months Supply of Homes For Sale increased 17.4% to 2.7

All comparisons are to 2023

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Drop to their Lowest Level Since February 2023

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September 12, 2024
Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023. Rates continue to soften due to incoming economic data that is more sedate. But despite the improving mortgage rate environment, prospective buyers remain on the sidelines, as they negotiate a combination of high house prices and persistent supply shortages.

Information provided by Freddie Mac.