Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending June 22, 2019
Publish Date: July 1, 2019 • All comparisons are to 2018

economic growth, low unemployment, wage improvement and consumer
confidence to keep home buyers in the market, despite insufficient supply. Builders
have not made enough new homes for several years, and, thus, national housing
inventory is extremely tight. The vacancy rate for owner-occupied homes in 2018
was the lowest since 1995. If the economy begins to slow, this situation is unlikely
to improve.
In the Twin Cities region, for the week ending June 22:
• New Listings increased 1.9% to 2,028
• Pending Sales increased 1.2% to 1,494
• Inventory increased 1.1% to 12,008
For the month of May:
• Median Sales Price increased 5.2% to $285,000
• Days on Market decreased 4.3% to 45
• Percent of Original List Price Received decreased 0.2% to 100.0%
• Months Supply of Homes For Sale increased 4.3% to 2.4