Minneapolis Real Estate News
Minneapolis
U.S. Pending Home Sales Down 7 Percent Annually in February
According to the National Association of Realtors, pending U.S. home sales in February 2024 grew 1.6% month-over-month from January 2024. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases.
U.S. Mortgage Rates Continue to Rise for Fourth Consecutive Week
Based on new data from Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.94 percent.
2023 U.S. Home Sales Was Worst Year in 3 Decades Says NAR
According to the National Association of Realtors, U.S. existing-home sales retreated again in December 2023. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases.
U.S. Home Prices Cooling Faster Than Normal in November
Based on the latest Zillow market report for November 2023, monthly costs for a new mortgage are falling, inventory is trending back toward normal, and price cuts are uncharacteristically common.
