For Week Ending June 1, 2019
Despite home prices that seem to be creeping ever upward like unchecked crabgrass, pending sales have been performing well, and new listings are generally keeping up with demand in a manner that is propelling the housing industry forward into weed-free pastures. The Federal Reserve considers 2.0% a healthy inflation rate, but the U.S. is expected to remain below that in 2019, which could prompt as many as three rate cuts this year. In turn, that could boost housing further. Excelsior!
In the Twin Cities region, for the week ending June 1:
- New Listings increased 1.2% to 1,839
- Pending Sales increased 6.3% to 1,558
- Inventory remained flat at 11,018
For the month of April:
- Median Sales Price increased 5.2% to $281,000
- Days on Market increased 7.5% to 57
- Percent of Original List Price Received decreased 0.5% to 99.4%
- Months Supply of Homes For Sale increased 5.0% to 2.1
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.