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Weekly Market Report

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For Week Ending December 7, 2024

The Federal Housing Finance Agency recently announced the conforming loan limits for one-unit properties with mortgages acquired by Fannie Mar and Freddie Mac will be $806,500 in 2025, an increase of $39,950 (5.2%) from 2024’s ceiling of $766,550. However, in high-cost areas where 115% of the local median home value exceeds the baseline conforming loan limit value, the new loan limit for one-unit properties will be $1,209,750.

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

  • New Listings increased 13.6% to 845
  • Pending Sales increased 8.9% to 701
  • Inventory increased 3.6% to 8,578

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 3.4% to $375,000
  • Days on Market increased 25.0% to 50
  • Percent of Original List Price Received increased 0.2% to 97.6%
  • Months Supply of Homes For Sale remained flat at 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 Drop

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December 12, 2024
The 30-year fixed-rate mortgage decreased for the third consecutive week. The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.

Information provided by Freddie Mac.