For Week Ending September 14, 2024

Mortgage activity surged the week ending September 13, 2024, as falling interest rates boost borrower demand nationwide. The Mortgage Bankers Association reports mortgage loan application volume increased 14.2% on a seasonally adjusted basis from the previous week, with purchase applications up 5%, while refinance applications jumped 24% from one week earlier.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING SEPTEMBER 14:

• New Listings decreased 0.6% to 1,433
• Pending Sales decreased 5.1% to 856
• Inventory increased 11.4% to 10,002

FOR THE MONTH OF AUGUST:

• Median Sales Price increased 2.2% to $388,500
• Days on Market increased 21.2% to 40
• Percent of Original List Price Received decreased 1.3% to 98.7%
• Months Supply of Homes For Sale increased 17.4% to 2.7

All comparisons are to 2023

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.