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.