My Neighborhood Market

February 13, 2024 The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025. Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This … Continue reading →

For Week Ending February 1, 2025 U.S. sales of existing homes totaled 4.06 million in 2024, down from 4.09 million the year before, according to the National Association of REALTORS®. Meanwhile, sales of new single-family homes grew for the second … Continue reading →

February 6, 2024 The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%. Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last … Continue reading →

For Week Ending January 25, 2025 U.S. housing starts jumped 15.8% month-over-month to a seasonally adjusted annual rate of 1,499,000 units, but were down 4.4% from one year ago, according to the U.S. Census Bureau. Single-family starts climbed 3.3% month-over-month … Continue reading →

January 30, 2024 The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher … Continue reading →

BUYER AND SELLER ACTIVITY HIGHER THAN 2023 DESPITE AFFORDABILITY HEADWINDS Buyers overcame triple punch of higher rates, rising prices and tight inventory for slight gain on the year Minneapolis–Saint Paul, Minnesota (January 28, 2025) – Home sales increased in 2024, … Continue reading →