Twin Cities Market Update – January 15, 2021

The New Year has begun and with it, many buyers and sellers have a change of housing in their new year resolutions. While ongoing unemployment claims are still elevated, it is less than one quarter of what it was at its high during the early days of the pandemic. With interest rates remaining near record […]

Twin Cities Market Update – January 8, 2021

As we near the end of the year, overall real estate activity slows as many buyers and sellers briefly turn their focus from real estate to the holidays, family, and friends. With mortgage rates closing the year at near record lows, and almost one percent lower than a year ago, home purchase mortgage loan application […]

Twin Cities Market Update – January 1, 2021

According to research by®, all-cash home purchases make up about 36% of the market, which is up only slightly from last year. While the middle-price tiers saw about the same percentage of all-cash sales as last year, the low end of the market (under $200,000) and the very top of the market (over $1 […]

Twin Cities Market Update – December 25, 2020

The National Association of Home Builders reports that lumber prices are rising again. After hitting an all-time high of near $950 per thousand board feet in September, prices slid to near $550 per thousand board feet in October but are now above $650 per thousand board feet in December. High lumber prices have contributed to […]

Twin Cities Market Update – December 18, 2020

The National Association of REALTORS® released a new report analyzing relocation trends during the pandemic. From March through October 2020, 8.9 million people moved according to the NAR’s analysis of USPS change-of-address data. While this sounds substantial, when comparing to the same period last year, only approximately 94,000 more people moved this year than a […]

Twin Cities Market Update – December 11, 2020

On Tuesday, the Dow Jones Industrial Average closed over 30,000 for the first time based on the good news in the development of coronavirus vaccines. Strength in the stock market, coupled with ongoing near-record low mortgage rates, continues to support healthy buyer demand in the market, though many take a short pause over the Thanksgiving […]

Twin Cities Market Update – December 4, 2020

The National Association of REALTORS® reported that existing-home sales rose again in October, the fifth monthly increase in a row. Total existing-home sales increased 4.3% from September, rising to a seasonally adjusted annual rate of 6.85 million homes, and marking the highest home sales level in 15 years. While home sales activity slows during the […]

Twin Cities Market Update – November 27, 2020

The Mortgage Bankers Association reported this week that mortgage credit availability increased in October, the first increase since July. Increasing credit availability means that lending standards are loosening, albeit slightly. Overall, credit availability increased for low credit scores and higher LTV loans, with convention credit supply increasing 5.1 percent, while government credit supply was effectively […]

Twin Cities Market Update – November 20, 2020 reported this week that, nationally, the inventory of homes for sale in October declined 38.3% from October 2019, continuing the long-term trend of limited housing availability. Continued buyer interest along with a limited supply of inventory are extending the season of multiple offers on hot properties into what is normally the slower selling season. […]

Twin Cities Market Update – November 13, 2020

The U.S. Bureau of Economic Analysis released its estimate for the country’s Q3 2020 GDP, showing the U.S. gross domestic product grew at an annualized rate of 33.1% in the third quarter, reversing much of the decline from COVID-19 seen from the second quarter. However, economists caution it may take a year or more for […]

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