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Weekly Market Report

For Week Ending December 24, 2022

Elevated mortgage rates continue to take a toll on the construction industry, with housing permits for new homes falling 11.2% in November, according to the Commerce Department. Housing starts were down 0.5% over the same time period, with the annual rate of housing starts down 16.4% from the previous year. Overall construction was strongest in the West and the South, while single-family construction was strongest in the West and Northeast.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 24:

  • New Listings decreased 5.6% to 303
  • Pending Sales decreased 20.8% to 449
  • Inventory increased 18.8% to 6,881

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 4.1% to $354,000
  • Days on Market increased 33.3% to 40
  • Percent of Original List Price Received decreased 2.6% to 97.2%
  • Months Supply of Homes For Sale increased 50.0% to 1.8

All comparisons are to 2021

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Weekly Report

Marty Siegel REALTOR, CRS,GRI

Direct: 952.844.6156
Cell: 612.670.3839
E-mail: TCRealtor@aol.com
Coldwell Banker Realty
7550 France Ave. S
Edina, MN 55435
DAVID KAMPIC SIEGEL ENDOWMENT FUND INFORMATION
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All information deemed reliable but not guaranteed and should be independently verified.

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