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Weekly Market Report

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For Week Ending August 31, 2024

49.2% of mortgaged residential properties in the U.S. were considered equity rich—having at least 50% equity in one’s home–in the second quarter of 2024, according to ATTOM’s Q2 2024 U.S. Home Equity and Underwater Report. This is an increase from the previous quarter, when 45.8% of mortgaged homes were considered equity-rich, with the largest quarterly increases found in lower-priced markets in the South and Midwest regions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 31:

  • New Listings decreased 10.7% to 1,096
  • Pending Sales decreased 8.5% to 870
  • Inventory increased 12.7% to 9,842

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.

Mortgage Rates Remained Flat This Week

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September 5, 2024
Mortgage rates remained flat this week as markets await the release of the highly anticipated August jobs report. Even though rates have come down over the summer, home sales have been lackluster. On the refinance side however, homeowners who bought in recent years are taking advantage of declining mortgage rates in order to lower their monthly payments.

Information provided by Freddie Mac.