For Week Ending August 29, 2015
The stock market has been experiencing a bit of a tizzy of late, but that does not seem to have had huge ramifications for housing. The Mortgage Bankers Association recently reported that mortgage applications and refinancing have both been on the rise, likely in order to get ahead of an expected rate hike by the Federal Reserve. While stock market flux can have undesirable ripples throughout the economy, it appears that housing has remained relatively untouched for the time being.
In the Twin Cities region, for the week ending August 29:
- New Listings increased 13.0% to 1,534
- Pending Sales increased 8.3% to 1,171
- Inventory decreased 13.0% to 16,777
For the month of July:
- Median Sales Price increased 4.7% to $225,000
- Days on Market decreased 7.4% to 63
- Percent of Original List Price Received increased 0.8% to 97.6%
- Months Supply of Inventory decreased 17.4% to 3.8
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.