Ted Bergstrom

MN Real Estate Team

612.723.5444

Ted@TedBergstrom.com

Weekly Market Report

For Week Ending December 10, 2022

Conforming loan limits on mortgages acquired by Fannie Mae and Freddie Mac will increase in most of the United States to $726,200 in 2023, up from $647,200 in 2022, according to the Federal Housing Finance Agency. Meanwhile, the conforming loan limit in high-cost areas will increase to $1,089,300, exceeding the $1 million dollar mark for the first time. The increases in loan limits will allow a larger group of borrowers to qualify for loans backed by Fannie Mae and Freddie Mac.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 10:

  • New Listings decreased 4.1% to 686
  • Pending Sales decreased 27.1% to 604
  • Inventory increased 15.5% to 7,549

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 4.1% to $354,000
  • Days on Market increased 33.3% to 40
  • Percent of Original List Price Received decreased 2.6% to 97.2%
  • Months Supply of Homes For Sale increased 41.7% to 1.7

All comparisons are to 2021

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