Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending August 10, 2019
Publish Date: August 19, 2019 • All comparisons are to 2018

As July data roll in, more economists wonder whether we are seeing the signs of an
economic slowdown. Yet that would not necessarily imply a slowdown in the
housing market. While July's existing home sales fell below analyst expectations,
consumer confidence in housing reached new highs as mortgage rates dropped
and more homeowners refinanced their homes. It remains to be seen whether
growing confidence and lower rates will help boost home sales.
In the Twin Cities region, for the week ending August 10:
• New Listings decreased 2.1% to 1,794
• Pending Sales increased 3.8% to 1,342
• Inventory decreased 3.0% to 12,339
For the month of July:
• Median Sales Price increased 6.0% to $283,950
• Days on Market remained flat at 38
• Percent of Original List Price Received decreased 0.2% to 99.6%
• Months Supply of Homes For Sale remained flat at 2.5