For Week Ending June 30, 2018
The unemployment rate rose to 4.0 percent in June 2018, marking the first increase in nearly a year. Economic forecasters are calling this a healthy increase indicative of more people being counted as entering the work force in an exceptional job market that added more than 213,000 paying jobs in June. Strong demand for workers combined with low supply creates upward pressure on wages. Employed people with higher wages are generally good for residential real estate.
In the Twin Cities region, for the week ending June 30:
- New Listings increased 15.1% to 1,864
- Pending Sales increased 1.1% to 1,519
- Inventory decreased 16.5% to 11,374
For the month of May:
- Median Sales Price increased 8.3% to $270,750
- Days on Market decreased 9.6% to 47
- Percent of Original List Price Received increased 0.7% to 100.2%
- Months Supply of Inventory decreased 12.0% to 2.2
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.