Monday, October 8th, 2012

Some say that housing and the economy are woven together into a single garment of destiny. Let’s review recent national economic data: a good September non-farm payroll report marking 31 consecutive months of private job growth, the unemployment rate falling to 7.8 percent (a 44-month low), a widely positive S&P/Case-Shiller home price report and mortgage rates averaging close to 3.4 percent. Combine the above trends with less housing supply and strong home sales numbers, and you can start to see just what’s driving this recovery. Here’s what transpired locally.

In the Twin Cities region, for the week ending September 29:

  • New Listings increased 6.2% to 1,314
  • Pending Sales increased 15.5% to 1,000
  • Inventory decreased 29.6% to 16,261

For the month of September:

  • Median Sales Price increased 12.3% to $174,000
  • Days on Market decreased 28.7% to 101
  • Percent of Original List Price Received increased 4.1% to 94.8%
  • Months Supply of Inventory decreased 40.9% to 4.0

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, October 1st, 2012

With October just around the corner, 2012 has certainly flown by. The things to be watching for this fall are the same things you’ve likely been watching all year. Changes in sales levels, active listings, market times, seller concessions and, of course, home prices have taken center stage. To showcase just one, home prices may moderate on a month-to-month basis but should continue to demonstrate resiliency in a year-over-year sense. While the economy has been sending some mixed signals lately, one aspect of this recovery remains convincing: housing will be a net contributor.

In the Twin Cities region, for the week ending September 22:

  • New Listings decreased 1.1% to 1,295
  • Pending Sales increased 22.8% to 1,078
  • Inventory decreased 29.4% to 16,428

For the month of August:

  • Median Sales Price increased 14.8% to $178,000
  • Days on Market decreased 23.9% to 107
  • Percent of Original List Price Received increased 4.2% to 95.1%
  • Months Supply of Inventory decreased 41.1% to 4.2

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, October 1st, 2012

With October just around the corner, 2012 has certainly flown by. The things to be watching for this fall are the same things you’ve likely been watching all year. Changes in sales levels, active listings, market times, seller concessions and, of course, home prices have taken center stage. To showcase just one, home prices may moderate on a month-to-month basis but should continue to demonstrate resiliency in a year-over-year sense. While the economy has been sending some mixed signals lately, one aspect of this recovery remains convincing: housing will be a net contributor.

In the Twin Cities region, for the week ending September 22:

  • New Listings decreased 1.1% to 1,295
  • Pending Sales increased 22.8% to 1,078
  • Inventory decreased 29.4% to 16,428

For the month of August:

  • Median Sales Price increased 14.8% to $178,000
  • Days on Market decreased 23.9% to 107
  • Percent of Original List Price Received increased 4.2% to 95.1%
  • Months Supply of Inventory decreased 41.1% to 4.2

Click here for the full Weekly Market Activity Report.

From The Skinny.

Friday, September 28th, 2012

 

By Tara-Nicholle Nelson

In 1750, Samuel Johnson wrote that “to be happy at home is the ultimate result of all ambition.” And there’s truth to this; for most Americans, our homes are our launch pads for being and doing our best in the world, and the places where we live out our most precious, private moments. So, if you follow our most important dreams to their logical conclusions, they almost all boil down to having a happy home, where we and our families can thrive and enjoy happy, secure lives.

Fortunately, dreams do come true – and dream homes can become reality. Here is a short list of musts for developing the vision, strategy, commitment and effort it will take to make your dream home your actual home.

Click Here For More

Friday, September 28th, 2012

 

Article by: JIM BUCHTA , Star Tribune

The Twin Cities posted the second-highest increase in home prices among 20 major U.S. cities in July, as the local housing market continues to strengthen.

The Standard & Poor’s/Case Shiller index showed home prices in the metro area jumped 6 percent in July compared to a year ago, far outpacing the 20-city composite that showed a 1.2 percent gain. The Twin Cities trailed only Phoenix, which saw prices soar 16.6 percent for the month.

Among the metro areas S&P follows, the Twin Cities has been a standout for much of the year with six months of year-over-year gains. July’s increase gives Realtors, buyers and sellers even greater confidence that the market is finally gaining stability after crashing five years ago.

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