Welcome to TeamEmond

Weekly Market Report

by

For Week Ending August 24, 2024

U.S. housing starts fell 6.8% month-over-month and 16.0% year-over-year to a seasonally adjusted annual rate of 1,238,000 units, according to the U.S. Census Bureau. Building permits also declined as of last measure, sliding 4% month-over-month to a seasonally adjusted annual rate of 1,396,000 units. Analysts say Hurricane Beryl, along with elevated interest rates in July, likely impacted construction activity.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 24:

  • New Listings decreased 3.9% to 1,268
  • Pending Sales decreased 9.2% to 845
  • Inventory increased 13.6% to 9,793

FOR THE MONTH OF JULY:

  • Median Sales Price increased 2.7% to $385,000
  • Days on Market increased 24.1% to 36
  • Percent of Original List Price Received decreased 1.3% to 99.5%
  • Months Supply of Homes For Sale increased 18.2% to 2.6

All comparisons are to 2023

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

Mortgage Rates Continue to Drop

by

August 29, 2024
Mortgage rates fell again this week due to expectations of a Fed rate cut. Rates are expected to continue their decline and while potential homebuyers are watching closely, a rebound in purchase activity remains elusive until further declines are seen.

Information provided by Freddie Mac.

Weekly Market Report

by

For Week Ending August 17, 2024

The number of homes for sale continues to improve nationwide, marking the ninth straight month of growth. According to Realtor.com’s July 2024 Monthly Housing Market Trends Report, there were 36.6% more homes on the market in July compared to the same period last year. Prospective buyers, especially first-time homebuyers, will be pleased to know the growth in homes priced between $200,000 – $350,000 jumped 47.3% year-over-year, outpacing all other price categories.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 17:

  • New Listings increased 3.1% to 1,320
  • Pending Sales decreased 5.4% to 925
  • Inventory increased 14.4% to 9,783

FOR THE MONTH OF JULY:

  • Median Sales Price increased 2.7% to $385,000
  • Days on Market increased 24.7% to 36
  • Percent of Original List Price Received decreased 1.3% to 99.5%
  • Months Supply of Homes For Sale increased 18.2% to 2.6

All comparisons are to 2023

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