So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.
In the Twin Cities region, for the week ending August 17:
- New Listings increased 27.8% to 1,643
- Pending Sales increased 8.7% to 1,173
- Inventory decreased 10.1% to 16,124
For the month of July:
- Median Sales Price increased 16.8% to $208,000
- Days on Market decreased 31.4% to 72
- Percent of Original List Price Received increased 2.6% to 97.5%
- Months Supply of Inventory decreased 19.6% to 3.7
Click here for the full Weekly Market Activity Report.From The Skinny.