Rising home prices and continued housing stability continue to lure new listings
and keep inventory at a comfortable level. Although things like student debt and
lethargic wage growth may provide some obstacles for first-time home buyers,
those on the hunt for homes are still graced by relatively low inflation and low
mortgage rates. The seasonal slows may settle in soon, but the market remains
mostly content.
In the Twin Cities region, for the week ending October 18:
- New Listings increased 1.6% to 1,310
- Pending Sales increased 5.1% to 912
- Inventory increased 6.1% to 18,094
For the month of September:
- Median Sales Price increased 5.1% to $204,999
- Days on Market remained flat at 71
- Percent of Original List Price Received decreased 0.9% to 95.6%
- Months Supply of Inventory increased 18.4% to 4.5
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny Blog.