Monday, January 27th, 2014

by The KCM Crew

There are many naysayers declaring that the housing market is still challenged. Young adults are burdened with too much student debt. Interest rate increases are killing demand. Homeownership is no longer seen as part of the American Dream.

We just want to let these naysayers know three things: 13,945 houses sold yesterday, 13,945 will sell today and 13,945 will sell tomorrow. 13,945!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, there were 5.09 million homes sold in 2013. Divide that number by 365 (days in a year) and we can see that, on average, almost 14,000 homes sell every day.

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Friday, January 24th, 2014

Thursday, January 23rd, 2014
WMAR
The years of 2012 and 2013 are going to be noted as a period of recovery for housing, and 2014 should prove to be more of the same but perhaps with not as much force. As we begin to look for signs of a stabilized residential real estate market, we may see fewer sales than in recent years, but these sales should be of a higher quality in that they will have been made with stronger lending standards to people with stronger jobs in a stronger economy. Even this early in the year, we
should begin to see signs of new inventory coming onto the market with a more balanced months’ supply of inventory and well-paced market times.

 

In the Twin Cities region, for the week ending January 11:
• New Listings decreased 14.6% to 958
• Pending Sales decreased 19.5% to 556
• Inventory decreased 9.8% to 11,810

 

For the month of December:
• Median Sales Price increased 13.1% to $190,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7

 

Posted in Weekly Market Activity Reports |
Wednesday, January 22nd, 2014

by The KCM Crew

Many pundits are warning that there will be a drop in real estate values because mortgage rates are beginning to increase. The logic makes sense. However, history shows that increasing rates have not negatively impacted home values in the past.

Four times over the last 30 years mortgage interest rates have dramatically increased. Here is the impact the increases had on home values at the time:

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Thursday, January 16th, 2014

 

WMAR

It’s the time of year when housing statistics take a back seat to the resolve associated with a fresh calendar year. Diligent tracking of new listings and pending sales counts tends to give way to weight loss plans and personal financial planning. And you know what? That’s just great! Spending some time focusing on self just may help make 2014 a banner year to match 2013. But if you want to take a quick glance, the data is here for your perusal. Here’s to another great year!

In the Twin Cities region, for the week ending January 4:

• New Listings decreased 18.7% to 678

• Pending Sales decreased 12.4% to 507 •

Inventory decreased 4.9% to 12,368For the month of December:

• Median Sales Price increased 13.7% to $191,000

• Days on Market decreased 20.4% to 86

• Percent of Original List Price Received increased 0.9% to 94.6%

• Months Supply of Inventory decreased 15.6% to 2.7

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Posted in Weekly Market Activity Reports |