Weekly Market Activity Report
For Week Ending June 15, 2013Publish Date: June 24, 2013 • All comparisons are to 2012
The national mortgage rate encouragingly remains low at 4.0 percent, leaving
buyers plenty of wiggle room before the 7.0 percent mark where the ratio of monthly housing costs to family incomes falls slightly out of favor. Meanwhile the Federal Reserve has delicately tried to explain the difference between easing off the gas pedal and applying the brakes. Markets are certainly capable of overreaction, as are consumers, but the housing scene has grown stable enough to absorb slight upticks in rates.In the Twin Cities region, for the week ending June 15:• New Listings increased 32.6% to 1,960• Pending Sales increased 23.2% to 1,365• Inventory decreased 20.0% to 14,867 For the month of May:• Median Sales Price increased 14.9% to $194,200• Days on Market decreased 29.8% to 87• Percent of Original List Price Received increased 2.5% to 97.0%• Months Supply of Inventory decreased 30.6% to 3.4
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