For Week Ending April 27, 2019
The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.
In the Twin Cities region, for the week ending April 27:
- New Listings increased 10.1% to 1,953
- Pending Sales decreased 4.1% to 1,363
- Inventory decreased 1.8% to 9,492
For the month of March:
- Median Sales Price increased 6.5% to $275,000
- Days on Market increased 15.8% to 66
- Percent of Original List Price Received decreased 0.5% to 98.6%
- Months Supply of Homes For Sale increased 5.6% to 1.9
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.