My New Blog

The numbers show some promise for our area.  Home sales and prices are up from this point in 2010.  Also, absorption rate is down from where it was a year ago as well! 

Home Sales Rochester, MN:
October 2011 - 116
October 2010 - 108

Average Home Sale Price Rochester, MN:
October 2011 - $178,531.00
October 2010 - $172,434.00

Monthly Absorption Rate Rochester, MN:
October 2011 – 6.48 Months
October 2010 – 8.27 Months

Rochester, MN Area Home Interest Rates as of October 2011:
Conventional 30 Year Fixed – 3.875%; up from last month
Conventional 15 Year Fixed – 3.125%; up from last month
FHA/DVA 30 Year Fixed – 3.75 %; unchanged
MN Housing First Time Homebuyer – 3.625%; unchanged
FHA 5-1 Adjustable Rate Mortgage – 2.25%; down from last month

Affordability Index Nationwide:
September 2011: Median Sales Price = $165,600; Interest Rate = 4.51%; Monthly Payment = $672.00; Payment as % of Total Income =13.10%.

September 2010: Median Sales Price = $172,400; Interest Rate = 4.68 %; Monthly Payment = $714.00; Payment as % of Total Income =14.00%.