For Week Ending April 2, 2016
The forecast is bright with a persistent rise in pending home sales. Low mortgage rates and rising rental prices continue to point buyers into the housing market. In order to maintain home-purchase momentum, the supply of homes for sale must grow.
In the Twin Cities region, for the week ending April 2:
- New Listings increased 15.6% to 1,954
- Pending Sales increased 1.8% to 1,378
- Inventory decreased 19.6% to 12,146
For the month of February:
- Median Sales Price increased 5.7% to $222,000
- Days on Market decreased 17.5% to 85
- Percent of Original List Price Received increased 0.8% to 96.7%
- Months Supply of Inventory decreased 28.6% to 2.5
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.