Weekly Housing Market Activity Report
For Week Ending July 21, 2018
Publish Date: July 30, 2018 • All comparisons are to 2017
Although talk of another real estate pricing bubble poised to burst is premature,
pundits are nevertheless beginning to point toward the common markers that
caused the last housing market downturn. As prices continue to rise while wages
don't rise as quickly, a new situation could be an eventuality. Yet today's market is
quite different than the last recession. The economy is growing, lending practices
are more in line with economic fundamentals and inventory appears to be improving
in many markets, which would help alleviate price pressure.
In the Twin Cities region, for the week ending July 21:
• New Listings increased 2.2% to 1,927
• Pending Sales decreased 3.1% to 1,336
• Inventory decreased 13.6% to 11,728
For the month of June:
• Median Sales Price increased 5.3% to $271,000
• Days on Market decreased 16.7% to 40
• Percent of Original List Price Received increased 0.8% to 100.3%
• Months Supply of Homes For Sale decreased 11.1% to 2.4