Archives for June 2025
Mortgage Rates Remain Essentially Flat
June 12, 2025
Mortgage rates have moved within a narrow range for the past few months and this week is no different. Rate stability, improving inventory and slower house price growth are an encouraging combination this National Homeownership Month.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 31, 2025
Mortgage applications for new home purchases increased 2% month-over-month and 5.3% year-over-year, according to the Mortgage Bankers Association (MBA) Builder Application Survey, marking the second straight month of annual gains and the highest level of new home applications in the survey’s history. Meanwhile, the average loan amount for new homes decreased from $381,921 to $376,992.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MAY 31:
- New Listings decreased 2.8% to 1,467
- Pending Sales decreased 5.5% to 925
- Inventory increased 6.4% to 9,454
FOR THE MONTH OF APRIL:
- Median Sales Price increased 3.7% to $399,900
- Days on Market increased 6.5% to 49
- Percent of Original List Price Received decreased 0.2% to 99.7%
- Months Supply of Homes For Sale increased 4.5% to 2.3
All comparisons are to 2024
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
Mortgage Rates Move Down
June 5, 2025
The average mortgage rate decreased this week, which is welcome news to potential homebuyers who also are seeing inventory improve and house price growth slow.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 24, 2025
According to Realtor®.com, 18% of listings had a price reduction in April, up from 15.5% one year earlier, and the highest share for April going back to 2016. Among major metropolitan areas, Phoenix, AZ, had the highest share of listings with price cuts, at 31.3%, followed by Tampa, FL and Jacksonville, FL, at 29.3% and 27.6%, respectively.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MAY 24:
- New Listings increased 5.2% to 1,412
- Pending Sales increased 0.8% to 1,153
- Inventory increased 6.6% to 9,442
FOR THE MONTH OF APRIL:
- Median Sales Price increased 3.7% to $399,900
- Days on Market increased 6.5% to 49
- Percent of Original List Price Received decreased 0.2% to 99.7%
- Months Supply of Homes For Sale increased 4.5% to 2.3
All comparisons are to 2024
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
