Weekly Market Activity Report
Click Here To See Full Report
The spring market is heating up as the federal tax credit deadline draws near. The Twin Cities housing market saw some resurgence in several metrics for the week ending March 13.
Pending sales were where the real action was. The magical "1,000" barrier was finally broken for the first time this spring with 1,027 purchase agreements signed for the week. This was an improvement in the year-over-year figures by 18.0 percent. The 2,110 new listings were slightly down from the previous week's high, but they still outpaced 2009 numbers at this time by 17.9 percent.
The number of active listings slowly continues its upward mobility. There were 24,524 homes available on the market for the week ending March 22. This is still below last year, but as the graph on page 4 shows, active listings are getting closer and closer to where they were during the spring of 2009.
-MAAR
Tuesday, March 23, 2010
Monday, March 8, 2010
Weekly Twin Cities Real Estate Market Update
Weekly Market Activity Report
Warming weather, affordability and approaching deadlines are activating the housing market. With less than 60 days left until the home buyer tax credit expires, buyers and sellers appear to be kicking it into a new gear. There were 1,715 new listings for the week ending February 27, an increase of 5.3 percent from a year ago and the fourth consecutive week of year-over-year increase. The $6,500 tax credit for move-up buyers appears to be stimulating some sellers to place their homes on the market in an attempt to sell them before the credit expires.
For the same reporting week, there were 868 accepted offers, which is a bump of 13.9 percent from a year ago. After several months of relatively flat home buying, the last two weeks have seen a jump as the credit deadline nears.
Days on Market continues to decrease, landing at 142 days in February. That was a 9.7 percent decrease from a year ago.
The Percent of Original Price Received at Sale stood at 92.3 percent in February, a 3.4 percent increase over the year prior.
Warming weather, affordability and approaching deadlines are activating the housing market. With less than 60 days left until the home buyer tax credit expires, buyers and sellers appear to be kicking it into a new gear. There were 1,715 new listings for the week ending February 27, an increase of 5.3 percent from a year ago and the fourth consecutive week of year-over-year increase. The $6,500 tax credit for move-up buyers appears to be stimulating some sellers to place their homes on the market in an attempt to sell them before the credit expires.
For the same reporting week, there were 868 accepted offers, which is a bump of 13.9 percent from a year ago. After several months of relatively flat home buying, the last two weeks have seen a jump as the credit deadline nears.
Days on Market continues to decrease, landing at 142 days in February. That was a 9.7 percent decrease from a year ago.
The Percent of Original Price Received at Sale stood at 92.3 percent in February, a 3.4 percent increase over the year prior.
Subscribe to:
Comments (Atom)
Posts
