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Weekly Market Report

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For Week Ending June 8, 2024

U.S. home prices have increased by more than 47% since 2020, according to a recent analysis by ResiClub of the Case-Shiller National Home Price Index, outpacing the growth of the 1990s and 2010s, which saw prices rise 30.1% and 44.7%, respectively. Analysts say home price growth this decade is on track to surpass the growth of the 2000s, when home prices rose 47.3%.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JUNE 8:

  • New Listings increased 3.2% to 1,666
  • Pending Sales decreased 7.1% to 1,068
  • Inventory increased 12.9% to 8,613

FOR THE MONTH OF MAY:

  • Median Sales Price increased 4.1% to $385,000
  • Days on Market increased 5.3% to 40
  • Percent of Original List Price Received decreased 1.0% to 100.1%
  • Months Supply of Homes For Sale increased 21.1% to 2.3

All comparisons are to 2023

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

Mortgage Rates Continue to Move Down

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June 13, 2024
Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth. Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.

Information provided by Freddie Mac.