Tuesday, November 25th, 2014
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By Aubray Erhardt on Monday, November 24th, 2014

Consumers are already starting to lean toward 2015, so let’s look ahead ourselves before we hit the weekly tabulations. With virtually no inflation to speak of, interest rates should remain low for the foreseeable future but could flirt with 5.0 percent toward the end of next year. Both new and existing inventory levels should rise – which is more of a continuation than a new development for many communities. Prices are also expected to increase but not by much, which should help first-time buyers. Job growth is likely to continue, and wage growth is expected to pick up.

In the Twin Cities region, for the week ending November 15:

• New Listings decreased 14.5% to 857

• Pending Sales decreased 1.6% to 749

• Inventory increased 3.5% to 16,692

For the month of October:

• Median Sales Price increased 6.7% to $208,000

• Days on Market decreased 4.0% to 72

• Percent of Original List Price Received decreased 0.6% to 95.2%

• Months Supply of Inventory increased 13.5% to 4.2

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Monday, November 24th, 2014
According to the latest J.D. Power 2014 U.S. Primary Mortgage Origination Satisfaction Study, first-time homebuyers report challenges with understanding the mortgage process and the options that are available to them. It also suggests that lenders may be doing a poor job of educating and helping borrowers navigate the loan process.

Among survey respondents purchasing a home, 58 percent were first-time home buyers, yet only 29 percent of homebuyers in the last three months were first-timers, according to the National Association of REALTORS®. The percentage of first-time homebuyers has been less that 30 percent for 17 of the past 18 months. The reason the number is significant is that it's well below the long-term average of 40 percent.

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Monday, November 24th, 2014
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by David Arbit, Research Manager at the Minneapolis Area Association of REALTORS®, video produced by Chelsie Lopez.
Sunday, November 23rd, 2014
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by David Arbit, Research Manager at the Minneapolis Area Association of REALTORS®, video produced by Chelsie Lopez.
Monday, November 17th, 2014
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By Aubray Erhardt

As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm.

In the Twin Cities region, for the week ending November 8:

• New Listings decreased 2.8% to 1,104
• Pending Sales increased 2.0% to 826
• Inventory increased 4.1% to 16,972

For the month of October:

• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2

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