No good news goes unpunished. As the economy churned out more than 320,000 private jobs in November, some say the Federal Reserve is that much more likely to stick to the plan of raising rates by mid-2015. The truth is that the U.S. is on track for the strongest yearly job growth since 1999. That means more families are in a better position to buy a home, which is of course good news for housing. Let’s take a look at the local housing market.
In the Twin Cities region, for the week ending November 29:
- New Listings decreased 13.5% to 468
- Pending Sales decreased 8.3% to 539
- Inventory increased 0.5% to 15,557
For the month of November:
- Median Sales Price increased 5.1% to $205,000
- Days on Market increased 5.3% to 79
- Percent of Original List Price Received decreased 0.7% to 94.7%
- Months Supply of Inventory increased 5.9% to 3.6
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny Blog.