For Week Ending November 17, 2018
Sales and new listings continue to perform well in much of the nation thanks to a booming economy. Housing affordability remains a concern and is beginning to affect new single-family home construction. Builders are showing caution in the face of rising home prices and mortgage rates. Historically, housing can still be considered relatively affordable, but affordability measures have shown decline for several years. If this continues, it could negate recent gains in inventory.
In the Twin Cities region, for the week ending November 17:
- New Listings increased 6.7% to 955
- Pending Sales decreased 7.0% to 891
- Inventory increased 0.9% to 11,273
For the month of October:
- Median Sales Price increased 8.6% to $265,000
- Days on Market decreased 7.7% to 48
- Percent of Original List Price Received increased 0.2% to 97.9%
- Months Supply of Inventory remained flat at 2.4
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.