While the effects of covid-19 in the broader economy continue. Real Estate activity is recovering across much of the country. According to Freddie Mac Mortgage rates have been below 3.3% for more than 4 weeks and are hovering near all-time lows. Spurring strong interest in buyers and lifting showing activity up 21% nationally. Methodology: The […]
Visualize the impact of CV-19 on the Minnesota Housing Market
We begin with showing activity, which is one of the most reliable leading indicators of demand (mortgage applications are another good one). Since “bottoming” around the first week of April, showing activity has increased sharply since. In that first week of April, showings declined 46.5 percent from their March highs. Presently, showings are now just […]
Real Estate Market Health Predictions: How Could COVID-19 Affect Home Buying & Selling?
Safety First: Your risk of developing COVID-19 depends on both your personal health and the situation in your community. People in areas with reported cases — especially where there’s community-spread — and those older than 60 years in age and/or who have serious medical conditions are the most vulnerable to getting sick and becoming seriously […]
This Month in Real Estate – November 2019
Mortgage Type Rate 30-Year Fixed 3.69% 15-Year Fixed 3.15% 5/1-year ARM 3.35% Historical average 8.90% Home Sales Home sales increased year over year. The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.38 million in September, down 2.2% from August and 3.9% above the 5.18 million sales pace from […]
This month in Real Estate – October 2019
Mortgage Type Rate 30-Year Fixed 3.62% 15-Year Fixed 3.08% 5/1-year ARM 3.36% Historical average 8.90% Home Sales Home sales increased year over year. The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.49 million in August, up 1.3% from July and 2.6% above the 5.35 million sales pace from […]
