Higher interest rates, rising prices and a budget standoff in Washington haven’t shaken consumer sentiment regarding housing. Buyers continue to riffle through existing inventory for options, keeping an eye out for new listings. A sense of normalcy is returning to the real estate ethos after more than a decade of extreme ups and downs. It’s a big week for economic and housing news, so keep your eyes and ears tuned for any changing headlines.
In the Twin Cities region, for the week ending September 21:
- New Listings increased 13.3% to 1,469
- Pending Sales decreased 5.5% to 970
- Inventory decreased 6.8% to 16,249
For the month of August:
- Median Sales Price increased 16.9% to $207,900
- Days on Market decreased 34.0% to 70
- Percent of Original List Price Received increased 2.0% to 97.0%
- Months Supply of Inventory decreased 18.2% to 3.6
Click here for the full Weekly Market Activity Report.From The Skinny.