The Rochester area housing market began its seasonal slowdown in May with 380 new and back on the market listings, a decrease of 5% from the previous month. There were 245 homes going to pending (under contract) in May, down … Read more >
Twin Cities real estate sales drop 9%
Home sales in the Twin Cities, Minnesota area tumbled for the second straight month in May, while median home-price growth continued to slow, according to three metro Twin Cities Realtor associations.
Realtors reported 5,039 closed home sales last month, down … Read more >
Real estate refinancings hit 4-year low
Overall mortgage applications tumbled 1.4 percent last week on a seasonally adjusted basis from the week before, as refinancings fell for the third consecutive week, the Mortgage Bankers Association reported today.
The seasonally adjusted purchase index increased slightly to 395.6 … Read more >
Real estate rates retreat on jobs report
Today’s news of slowing job and wage growth has mortgages in retreat from another run towards 7 percent, and the 10-year T-note down to 5.01 percent from a 5.2 percent May high. A Fed pause at its June 29 meeting … Read more >
Rochester MN Real Estate Glossary
One of the most important parts of buying or selling a home is knowing the terminology. When you are familiar with the details of the process, buying or selling a home becomes less stressful and you will feel empowered when … Read more >