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Weekly Market Report

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For Week Ending August 12, 2023

Seller profit margins are up nationwide following three quarterly declines, according to ATTOM’s Q2 2023 U.S. Home Sales Report. Typical profit margins on medianpriced single-family and condo sales climbed to 47.7% in the second quarter of 2023, up from 43.9% the previous quarter, representing the first increase in a year. The rise in profit margins was boosted by recent growth in median single-family home and condo prices, which increased in more than 90% of the country in Q2, according to the report.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 12:

  • New Listings decreased 7.4% to 1,398
  • Pending Sales decreased 10.5% to 1,068
  • Inventory decreased 14.4% to 8,065

FOR THE MONTH OF JULY:

  • Median Sales Price remained flat at $375,000
  • Days on Market increased 31.8% to 29
  • Percent of Original List Price Received decreased 0.7% to 100.8%
  • Months Supply of Homes For Sale increased 10.5% to 2.1

All comparisons are to 2022

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

The 30-Year Fixed-Rate Mortgage Reaches its Highest Level in Over Twenty Years

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August 17, 2023
The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb. The last time the 30-year fixed-rate mortgage exceeded seven percent was last November. Demand has been impacted by affordability headwinds, but low inventory remains the root cause of stalling home sales.

Information provided by Freddie Mac.