Last year was another terrific year for residential real estate in the Twin Cities. Most every metric used to measure the residential real estate industry was positive for home owners. Highlights include: more homes were closed in 2017 than any previous year, the median sale price reached a new high, the average days on market […]
Industry Trends and Updates
I had the pleasure of attending the Leading Real Estate Companies of the World conference the week of January 29th. Leading Real Estate Companies of the World is a network of similar brokerages to Fazendin Realtors, who partner together to educate, collaborate and grow local business through a global channel. This invitation only network gives […]
As expected, the Fed increased short term interest rates .25% at the conclusion of their 2 day meeting yesterday. With unemployment at the lowest level since 2000, the Fed’s decision to increase rates is a positive sign that the US economy is healthy. The Fed expects 3 rate increases in 2018. Outgoing Fed chairwoman, Janet […]
With the majority of 2017 in the books, the Twin Cities housing market is likely to cap off another mostly positive year. Sales and prices both increased while interest rates remained attractive. More homes sold in less time and for closer to asking price. The economy remained supportive to housing by way of low unemployment […]
The short-term interest rates are expected to jump a quarter of a percent higher after the Fed’s two-day meeting commencing on Wednesday afternoon. Investors have priced this rate-hike into the mortgage market over the last couple of weeks so we are not expecting any significant changes to the 30-year mortgage interest rates upon the Fed’s […]
This month’s Monthly Skinny video from the Minneapolis Area Association of Realtors talks about the mixed factors contributing to our current housing market, really a mixed bag. Housing inventory continues to be a huge contributing factor though. Take a look!
With the year-end approaching, it is becoming more clear that the dynamics in the Twin Cities housing market in 2017 will be similar to 2016. Here are the similarities: 2016 (Through October) 2017 (YTD) Difference New Listings 71,647 70,308 -1.9% Pending Sales 54,037 54,103 +0.1% Closed Sales 52,438 […]
There were several important announcements last week regarding the economy and the Federal Reserve. INTEREST RATES The minutes following the Fed’s 2 day meeting showed there was no increase in short-term interest rates. The minutes reflected a high probability of a .25% increase at it’s December meeting. Mortgage rates remain excellent with the 30 YR […]
This month’s Monthly Skinny video from the Minneapolis Area Association of Realtors talks about the regional and national market slow down and what are the leading factors. Usually its tied to an economic shift, though this time its directly linked to house inventory. Watch and enjoy!
As the most active part of buying season draws to a close there seems to be a sentiment, in the media mostly, that the local housing market is in decline because sales are stalling. While it makes for a good headline, there is little proof to support this belief. In fact, what we are experiencing […]