Bruce Erickson

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Weekly Market Report

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For Week Ending March 7, 2026

U.S. sales of new residential homes slipped 1.7% in December to a seasonally adjusted annual rate of 745,000, according to the U.S. Census Bureau. Despite the monthly decline, new-home sales were 3.8% higher compared with the same period one year earlier. There were an estimated 472,000 new homes for sale, representing a 7.6-month supply at the current sales pace.

In the Twin Cities region, for the week ending March 7:

  • New Listings increased at 1,486
  • Pending Sales increased 1.7% to 896
  • Inventory increased 3.1% to 7,959

For the month of February:

  • Median Sales Price remained flat at $380,000
  • Days on Market remained flat at 69
  • Percent of Original List Price Received decreased 0.3% to 97.4%
  • Months Supply of Homes For Sale remained flat at 2.1

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Inch Higher as Housing Activity Picks Up

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March 12, 2026

The 30-year fixed-rate mortgage returned to last month’s level of 6.11%. Despite the modest uptick, buyers are responding to rates in this range, with existing-home sales increasing 1.7% in February. Purchase applications also increased this week, a welcome sign as buyers enter spring homebuying season with rates down more than half a percentage point compared to the same time last year.

  • The 30-year fixed-rate mortgage averaged 6.11% as of March 12, 2026, up from last week when it averaged 6.00%. A year ago at this time, the 30-year FRM averaged 6.65%.
  • The 15-year fixed-rate mortgage averaged 5.50%, up from last week when it averaged 5.43%. A year ago at this time, the 15-year FRM averaged 5.80%.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending February 28, 2026

The average 30-year fixed mortgage rate fell to 5.98% for the week ending February 26, 2026, marking the first time in 3½ years that rates have dropped below 6%, according to Freddie Mac. While falling rates are welcome news for prospective buyers, they’ve also benefited current homeowners, leading to a recent surge in refinance activity.

In the Twin Cities region, for the week ending February 28:

  • New Listings decreased 11.6% to 1,161
  • Pending Sales increased 0.1% to 870
  • Inventory increased 3.6% to 7,920

For the month of January:

  • Median Sales Price increased 1.4% to $375,000
  • Days on Market decreased 3.0% to 64
  • Percent of Original List Price Received decreased 0.1% to 96.8%
  • Months Supply of Homes For Sale remained flat at 2.0

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Hold Steady

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March 5, 2026

Mortgage rates held steady at 6% this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners. As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.

  • The 30-year fixed-rate mortgage averaged 6.00% as of March 5, 2026, slightly up from last week when it averaged 5.98%. A year ago at this time, the 30-year FRM averaged 6.63%.
  • The 15-year fixed-rate mortgage averaged 5.43%, slightly down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.79%.

Information provided by Freddie Mac.

January Monthly Skinny Video

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Existing Home Sales

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