The White House has released a plan to broadly overhaul the housing finance system, including the re-privatization of Fannie Mae and Freddie Mac and reforms to federal agencies involved with financing substantial portions of the mortgages made every year. These changes will affect the cost and availability of loans in the future. Many recommendations will require legislative approval, so it is unclear at this time how much of the plan may eventually be implemented and its ultimate impact on the housing market.
In the Twin Cities region, for the week ending September 7:
- New Listings decreased 3.8% to 1,691
- Pending Sales increased 5.3% to 1,113
- Inventory decreased 4.5% to 12,224
For the month of August:
- Median Sales Price increased 6.7% to $286,000
- Days on Market increased 2.5% to 41
- Percent of Original List Price Received decreased 0.2% to 99.0%
- Months Supply of Homes For Sale decreased 3.8% to 2.5
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.