For Week Ending April 11, 2020

This week’s initial jobless claims report from the Department of Labor showed another 6.6 million workers filed last week and revised the prior week’s claims up by 219,000 to nearly 6.9 million. Millions of additional initial jobless claims are likely to be reported in the next few weeks as the full impact of shelter-in-place policies becomes apparent. Meanwhile, Freddie Mac reported that the average 30-year fixed-rate mortgages rate remained flat at 3.33% this week, down from an average of 4.12% a year ago.

In the Twin Cities region, for the week ending April 11:

• New Listings decreased 30.4% to 1,210
• Pending Sales decreased 21.0% to 1,000
• Inventory decreased 11.3% to 8,928

For the month of March:

• Median Sales Price increased 8.0% to $297,000
• Days on Market decreased 9.1% to 60
• Percent of Original List Price Received increased 0.6% to 99.2%
• Months Supply of Homes For Sale decreased 10.0% to 1.8

All comparisons are to 2019

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