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U.S pending home sales fell 1.1% in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% compared to a year ago. Read more here 

FHFA increases maximum conforming loan limits for 2021 The Federal Housing Finance Agency (FHFA) recently announced plans to boost conforming loan limits in 2021 and the housing industry is buzzing. In response to rising property values across the US, the FHFA will increase the baseline for single-unit home mortgages acquired by Fannie Mae and Freddie […]

Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.  What happens when the supply is low and the demand is high? A seller will always negotiate the best deal when demand is high and supply […]

For October 2020 Within the Twin Cities Region. All price ranges, single-family, New construction, traditional sale, all sizes, all bedrooms, non-waterfront. https://northstarmls.stats.10kresearch.com/infoserv/s-v1/AiAS-p4r Median sales price: $426,291 0.3% price increase.

The statistics are in. Home sales for the Minneapolis/St Paul metro area through October 2020. This includes all price ranges, all areas, all types of sales. The average price is now $300,000.00 Click here to see the graphs.  Home sales for October was one of the best on record.

In today’s fast-paced housing market with seemingly increasing prices, a seller might think, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are […]