Weekly Market Activity Report

Here's the latest from MAAR:

The Twin Cities housing market remains on the course it set upon following the end of the boom expansion in early 2005. While buyer and seller activity is on its annual upswing as we enter the busy spring market, the picture looks different when compared to one year ago. New listings for the week ending March 24 were 0.5 percent above the same time last year, while newly signed purchase agreements (pending sales) were 15 percent behind for the same time comparison. With home prices holding steady and interest rates staying historically low, important improvements are being made in home affordability that will aid the market down the line.

This week's edition of the MAAR Weekly Market Activity Report features an updated Supply-Demand Ratio (SDR) figure for April 2007 of 6.81. This means that there will be approximately 6.81 homes on the market for every buyer in the month of April. This is a 29 percent increase over the April 2006 figure. The SDR should continue to rise throughout 2007 as the busy spring and summer seasons bring more homes on the market.