Tuesday, April 15th, 2014
April reporting brings hope as tulips and FOR SALE signs begin to brighten the housing landscape. Along with that hope is a little uncertainty about some regions' year-over-year sales and inventory figures. Fear not, however, because rates are still lower than most years in modern memory, there's proof of an improving mix of properties for sale on the national landscape and upward price pressure continues to motivate potential home buyers. Watch listing activity closely for more hints as to what may be unearthed next.

In the Twin Cities region, for the week ending April 5:

• New Listings increased 6.1% to 1,839
• Pending Sales decreased 7.1% to 1,026
• Inventory decreased 3.6% to 13,241

For the month of March:

• Median Sales Price increased 7.6% to $190,000
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1

Monday, April 14th, 2014
Twin Cities median home prices rose 7.6 percent in March to $190,000, the St. Paul and Minneapolis area associations of Realtors said in data released Thursday.

A low inventory of homes for sale continues to hamper the market. Still, new listings rose 5.5 percent to 6,492, according to St. Paul association data. Pending sales were down 8.4 percent to 4,141. Inventory levels shrank 4.1 percent to 13,086 units.

 "While low inventory has been a concern, new listings are up," said Michael Hunstad, St. Paul association president, in a news release. "I would anticipate an increase in new listing activity as the spring market and weather continue to warm up."

Traditional inventory continues to dominate the market at 73.

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Thursday, April 10th, 2014
Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.

These buyers are ready, willing and able to buy…and are in the market right now!

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Tuesday, April 8th, 2014
As April encroaches and spring feels more official, so does the possibility of a brightened, exciting housing market. Even though some areas across the country have seen a pause in buyer activity, the fundamentals remain positive. Traditional home buyers are apt to bud like a spring mix of lavender, peonies and tulips. And home prices are rising as surely as soil is being tilled for another fruitful season, adding even more to those warm fuzzy feelings sure to come.

In the Twin Cities region, for the week ending March 29:

• New Listings increased 18.4% to 1,599
• Pending Sales decreased 5.6% to 1,101
• Inventory decreased 5.5% to 13,056

For the month of February:

• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 9.4% to 2.9

Saturday, April 5th, 2014
by The KCM Crew

Recently, HousingWire asked David Berson, chief economist at Nationwide, for his opinion on the near-term future of housing. Below are what Mr. Berson believes to be the three things you need to know about housing in 2014. We have included a quote from the article and a small comment from KCM for all three points.

Number 1: 2014 should prove to be the strongest year for housing activity since before the Great Recession“Most economists expect an improved job market in 2014, with employment growth accelerating and the unemployment rate continuing to decline. That jobless rate drop will reflect more of a pickup in employment than further declines in the labor force participation rate. This will be the key factor improving housing demand this year, even if mortgage rates rise and affordability declines. While the housing market tends to do especially well when the job market improves and mortgage rates decline simultaneously, that combination of events occurs only rarely…People buy homes when their job and income prospects improve – even if it’s more expensive to do so – rather than buy when it is inexpensive to do so but they’re worried about keeping their jobs.”

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