Heartland Real Estate Professionals

Jean Youness 651-336-5042

Weekly Market Report

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For Week Ending March 8, 2025

47.7% of mortgaged residential properties in the U.S. were considered equity rich—having a loan-to-value ratio of 50% or lower—in the fourth quarter of 2024, according to ATTOM’s Q4 U.S. Home Equity and Underwater Report. This is down from 48.3% in the third quarter, but up from 46.1% one year earlier. The highest levels of equity-rich mortgaged properties were in Vermont (86.7%), New Hampshire (61.4%), and Maine (61.1%).

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 8:

  • New Listings increased 8.2% to 1,451
  • Pending Sales decreased 5.1% to 866
  • Inventory remained flat at 7,222

FOR THE MONTH OF FEBRUARY:

  • Median Sales Price increased 6.1% to $380,000
  • Days on Market increased 16.9% to 69
  • Percent of Original List Price Received increased 0.2% to 97.7%
  • Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

Weekly Market Report

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For Week Ending March 1, 2025

U.S. pending home sales slipped 4.6% month-over-month and 5.2% year-over-year, according to the National Association of Realtors®. Economists polled by Reuters had forecast contract signings falling 1.3% for the month. Pending sales decreased on a monthly basis in the Midwest, South, and West but increased slightly in the Northeast, with sales down in all four regions year-over-year.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 1:

  • New Listings increased 4.1% to 1,277
  • Pending Sales decreased 0.7% to 845
  • Inventory decreased 0.9% to 7,094

FOR THE MONTH OF JANUARY:

  • Median Sales Price increased 5.0% to $370,000
  • Days on Market increased 17.9% to 66
  • Percent of Original List Price Received increased 0.3% to 96.9%
  • Months Supply of Homes For Sale remained flat at 1.9

All comparisons are to 2024

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

Mortgage Rates Decrease

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February 6, 2024
The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%. Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what was seen a year ago, indicating some latent demand in the market.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending January 25, 2025

U.S. housing starts jumped 15.8% month-over-month to a seasonally adjusted annual rate of 1,499,000 units, but were down 4.4% from one year ago, according to the U.S. Census Bureau. Single-family starts climbed 3.3% month-over-month to a seasonally adjusted annual rate of 1,050,000 units, while multi-family starts surged 58.9% to a seasonally adjusted annual rate of 418,000 units.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 25:

  • New Listings increased 2.2% to 886
  • Pending Sales decreased 15.2% to 610
  • Inventory decreased 2.3% to 6,888

FOR THE MONTH OF DECEMBER:

  • Median Sales Price increased 4.6% to $370,000
  • Days on Market increased 9.8% to 56
  • Percent of Original List Price Received increased 0.3% to 97.0%
  • Months Supply of Homes For Sale remained flat at 1.9

All comparisons are to 2024

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

Mortgage Rates Show Little Movement

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January 30, 2024
The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.

Information provided by Freddie Mac.

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