For Week Ending February 12, 2022
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.69% the week ending February 10, up 14 basis points from a week earlier and a full point higher than the record low of 2.65% at the beginning of 2021. Rising interest rates and increasing housing prices continue to impact affordability, and buyer sentiment is softening as a result, with the mortgage application Purchase Index falling 7% from the same week last year, according to the Mortgage Bankers Association.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 12:
- New Listings decreased 12.1% to 1,040
- Pending Sales decreased 9.1% to 910
- Inventory decreased 20.0% to 4,371
FOR THE MONTH OF JANUARY:
- Median Sales Price increased 10.6% to $332,950
- Days on Market decreased 2.4% to 41
- Percent of Original List Price Received increased 0.1% to 99.6%
- Months Supply of Homes For Sale decreased 20.0% to 0.8
All comparisons are to 2021
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.