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Home Buyers Not Scared by Mortgage Rate Hikes
Date:7/19/2013

owing gains:
  • New Listings increased 14.3% to 1,105 • Pending Sales increased 5.7% to 912
  • Inventory decreased 16.4% to 15,249For the month of June:
  • Median Sales Price increased 17.5% to $210,000
  • Days on Market decreased 34.5% to 74
  • Percent of Original List Price Received increased 2.5% to 97.5%
  • Months Supply of Inventory decreased 27.1% to 3.5

MMAR's July 11, 2013 news release shows that traditional home sales tell the story of Twin Cities home buyers pushing past interest rate hikes and showing a return to a more normal market conditions.

  • Traditional home listings - up about 44.4 percent
  • Real estate seller activity - up 20 percent
  • Foreclosure new listing s- down 24.6 percent
  • Short sale new listings - down 51.7 percent
  • 16 straight months of year-over-year price gains

"The climb in mortgage rates definitely will impact some buyers, however, on overview shows the at the height of the housing market, rates hovered at 6 percent and home sales hit record highs," adds Thuening.

Home Destination helps Twin Cities real estate buyers searching to know their best options in the midst of mortgage rate hikes. Call 612-396-7832 for your own highly personalized guide when buying a new home.

Read the full story at http://www.prweb.com/releases/2013/7/prweb10937582.htm.


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