Real Estate
Weekly Housing Market Activity Report for the Twin Cities
Weekly Housing Market Activity Report for the Twin Cities
Weekly Housing Market Activity Report for the Twin Cities
For Week Ending January 11, 2020 Quick Facts
Publish Date: January 20, 2020 • All comparisons are to 2019
Freddie Mac reported that the average 30-year fixed-rate mortgage dropped to
3.64% this week, the lowest level in three months and down from 4.45% one year
ago. Additionally, conforming and FHA loan limits have increased for 2020.
Increased loan limits coupled with low rates, will give more buyers the ability to
purchase a wider range of properties. These changes, along with the continued
strong labor market, is likely to spur buyer demand even in the face of a
constrained supply of homes for sale throughout much of the country.
In the Twin Cities region, for the week ending January 11:
• New Listings decreased 4.9% to 998
• Pending Sales decreased 12.2% to 592
• Inventory decreased 15.2% to 7,624
For the month of December:
• Median Sales Price increased 8.0% to $278,600
• Days on Market decreased 1.8% to 56
• Percent of Original List Price Received increased 0.4% to 97.2%
• Months Supply of Homes For Sale decreased 21.1% to 1.5