Brian Bongard REALTOR®

Brian Bongard REALTOR®
Brian Bongard REALTOR®
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New Listings and Pending Sales

October 2, 2023 by aa90wordpress

Filed Under: The Skinny

Inventory

October 2, 2023 by aa90wordpress

Filed Under: Weekly Report

Weekly Market Report

October 2, 2023 by aa90wordpress

For Week Ending September 23, 2023

New-home construction recently fell to a 3-year low, as higher mortgage rates take their toll on homebuilders, impacting affordability and causing production to slow. According to the U.S. Census Bureau, housing starts dropped 11.3% from the previous month, led by a decline in multi-family construction. Although starts fell more than economists predicted, building permits increased over the same period, rising 6.9% from the previous month.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 23:

  • New Listings decreased 3.8% to 1,252
  • Pending Sales decreased 10.0% to 894
  • Inventory decreased 8.7% to 8,707

FOR THE MONTH OF AUGUST:

  • Median Sales Price increased 2.7% to $380,000
  • Days on Market increased 18.5% to 32
  • Percent of Original List Price Received increased 0.1% to 100.0%
  • Months Supply of Homes For Sale increased 15.8% to 2.2

All comparisons are to 2022

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

Filed Under: Weekly Report

Mortgage Rates Reach Highest Level in Almost 23 Years

September 28, 2023 by aa90wordpress

September 28, 2023
The 30-year fixed-rate mortgage has hit the highest level since the year 2000. However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances.

Information provided by Freddie Mac.

Filed Under: St Paul Pioneer Press

August Monthly Skinny Video

September 28, 2023 by aa90wordpress

Filed Under: St Paul Pioneer Press

New Listings and Pending Sales

September 25, 2023 by aa90wordpress

Filed Under: The Skinny

Inventory

September 25, 2023 by aa90wordpress

Filed Under: Weekly Report

Weekly Market Report

September 25, 2023 by aa90wordpress

For Week Ending September 16, 2023

Single-family homes are shrinking, as U.S. homebuilders respond to increased demand for smaller, more affordable homes. According to the U.S. Census Bureau, median single-family square floor area declined 2.9% to 2,191 square feet in the second quarter of 2023, the lowest reading since 2010. Single-family home size increased briefly during the COVID-19 pandemic, but has been decreasing steadily since the third quarter of 2022, as housing affordability conditions continue to impact buyer purchasing power.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 16:

  • New Listings decreased 3.2% to 1,413
  • Pending Sales decreased 2.9% to 905
  • Inventory decreased 9.3% to 8,562

FOR THE MONTH OF AUGUST:

  • Median Sales Price increased 2.7% to $380,000
  • Days on Market increased 18.5% to 32
  • Percent of Original List Price Received increased 0.1% to 100.0%
  • Months Supply of Homes For Sale increased 15.8% to 2.2

All comparisons are to 2022

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

Filed Under: Weekly Report

Mortgage Rates Remain Flat, Lingering Above Seven Percent

September 21, 2023 by aa90wordpress

September 21, 2023
Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes. Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for the first time in several months and construction levels have dipped to a three-year low, which could have an impact on the already low housing supply.

Information provided by Freddie Mac.

Filed Under: St Paul Pioneer Press

Existing Home Sales

September 21, 2023 by aa90wordpress

Filed Under: St Paul Pioneer Press

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