Builder Confidence Soars, Twin Cities Real Estate Market Thrives!

🏡 Builder Confidence Soars, Twin Cities Real Estate Market Thrives! 📈

Welcome to our Weekly Market Activity Report, where we unveil the exciting trends and vibrant dynamics of the real estate market. In this edition, we dive into the thrilling world of the Twin Cities region, where 🏗️ builder confidence is skyrocketing, and the market is buzzing with opportunities. Join us as we take a closer look at the numbers and show you why now is the perfect time to embark on your real estate journey. Let's dive in! 💼💰🔑

Builder Confidence Takes Flight! 🚀 Hold onto your hard hats, folks! The latest data from the National Association of Home Builders (NAHB) reveals an astounding surge of 5 points in builder confidence for May. 📈 This marks the fifth consecutive monthly increase, hitting the highest level recorded since July 2022. With 🏠 new-home sales on the rise and a scarcity of existing homes for sale, builders are beaming with confidence. 🌟 To sweeten the deal, they're offering juicy sales incentives, including an average price reduction of 6%—talk about getting more bang for your buck! 💵💪

Twin Cities Market in the Spotlight! 🌟 Now, let's shine a spotlight on the Twin Cities region and uncover the exciting developments in the market. For the week ending June 3, new listings took a little breather, declining by 20.7% to 1,464. Don't worry, though! This slight dip means sellers are catching their breath, strategizing to make their moves even more enticing. 😌 On the buyer's side, pending sales dipped by 9.8% to 998, suggesting a momentary pause in the frenzy. But fear not! The market is alive and kicking! ⚡️

Inventory Countdown! ⏳ As we venture deeper, we discover that inventory has tightened its belt, decreasing by 6.7% to 7,000 properties available. 🏢 With a shrinking supply, buyers face an exciting challenge of finding their dream homes amidst the frenzy. It's time to roll up your sleeves, put on your detective hats, and secure the gem you've been longing for. The race is on! 🏁

Insights from April: Stability in Action! 💎 Taking a closer look at April, we find a market that thrives on stability. The median sales price remained rock solid at $369,900, showing the resilience of the market even in uncertain times. 🌈 However, the average days on market stretched their wings, increasing by a whopping 64.3% to 46 days. 🕒 This longer timeframe hints at buyers meticulously weighing their options, determined to find the perfect match. Patience pays off! 🤝

Negotiation Game On! 🤝💰 In the realm of negotiations, the percent of the original list price received saw a slight decrease of 3.6% to 100.1%. 💰 This means sellers are ready to work their magic and meet buyers halfway, ensuring both parties walk away with smiles on their faces. It's time to flex those negotiation skills and strike the perfect deal! 💪💼

Embracing Balance: Supply Meets Demand! ⚖️ Lastly, the months supply of homes for sale experienced a significant 33.3% increase, reaching 1.6 months. ⚖️ This uptick hints at a market inching towards balance—good news for everyone! While sellers still hold the reins, buyers have more options to explore and the opportunity to find their dream home without compromising.

If you're a buyer and have questions about the home buying process, be sure to download my Ultimate Buyers Guide. 

Click here for all my home buyers tips!

Looking For A LOAN OFFICER? Check out Jane & Zach Johanns with New American Funding by  CLICKING HERE. You can even apply for pre-qualification right on the site.

Want to crunch some numbers before you buy? Try out my Mortgage Calculator  by clicking here!

Ready to start your home search?  Click Here To Get Started!

Sellers:

If you’re a seller, now might be the right time for you to put your home on the market. Wondering What Your Home Is Worth? I would love to help.

Check out my Seller's Tips Here

Having A Marketing Plan For Your Home Is Key. Click Here To Learn More What I Do For My Sellers.

Click Here if you would like a copy of my Sellers Guide

Let's connect and set up a time to talk about your goals and plans for selling!