Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending November 16, 2019 Quick Facts
Publish Date: November 25, 2019 • All comparisons are to 2018

announced their Mutual Mortgage Insurance Fund Capital Ratio stood at 4.84%, up
from 2.76% last year and well above the 2% minimum required by Congress. This
has prompted the National Association of REALTORS® to advocate for a reduction
in FHA insurance premiums and eliminating the life-of-loan mortgage insurance
requirement. While the FHA has not committed to any changes at this time, there is
optimism for change in the future as the reserves continue to increase. With FHA
loan market share at 11.4% in the 2019 report, any reduction in mortgage insurance
costs would positively affect a large number of future borrowers.
In the Twin Cities region, for the week ending November 16:
• New Listings increased 6.2% to 1,028
• Pending Sales increased 6.3% to 999
• Inventory decreased 6.1% to 11,147
For the month of October:
• Median Sales Price increased 5.7% to $280,000
• Days on Market decreased 4.2% to 46
• Percent of Original List Price Received increased 0.1% to 98.1%
• Months Supply of Homes For Sale decreased 4.0% to 2.4