In the buildup of anticipation for the season of pumpkin carving, caramel apple eating and haunted house touring, it came out that one number was spookily down. Homeownership is at its lowest point in 20 years and has been steadily dropping since the housing bubble years from 2004 to 2006. Interestingly, we are now at levels consistent with a healthy market. Also, rising rents should eventually give cause to more households seeking ownership positions. So-called bad news is good, especially in the dark days surrounding Halloween.
In the Twin Cities region, for the week ending October 25:
- New Listings increased 4.5% to 1,267
- Pending Sales decreased 10.4% to 861
- Inventory increased 5.5% to 17,894
For the month of September:
- Median Sales Price increased 5.1% to $205,000
- Days on Market remained flat at 71
- Percent of Original List Price Received decreased 0.9% to 95.6%
- Months Supply of Inventory increased 18.4% to 4.5
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny Blog.