According to Black Knight, mortgage loan delinquency rates are continuing to decline, with the national delinquency rate falling to 4.66% in its April survey from 5.02% in March. While the continued decline of delinquency rates is a positive sign, nearly 1.8 million first-lien mortgages remain seriously delinquent, which is 1.3 million more than before the pandemic.
In the Twin Cities region, for the week ending May 29:
- New Listings increased 2.0% to 1,515
- Pending Sales increased 30.6% to 1,673
- Inventory decreased 45.4% to 5,837
For the month of April:
- Median Sales Price increased 10.2% to $336,250
- Days on Market decreased 34.0% to 31
- Percent of Original List Price Received increased 3.4% to 103.3%
- Months Supply of Homes For Sale decreased 47.6% to 1.1
All comparisons are to 2020
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.