Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending March 16, 2019
Publish Date: March 25, 2019 • All comparisons are to 2018

that further rate hikes are not planned for 2019. Given that the federal funds rate
has increased nine times over the past three years, this is welcome news for
consumers carrying high credit card balances. The overall economy, inflation and
Fed actions also have an effect on mortgage rates, so it is generally good news
when rate hikes are paused, especially when total sales are dropping in many parts
of the nation.
In the Twin Cities region, for the week ending March 16:
• New Listings decreased 12.2% to 1,374
• Pending Sales decreased 20.8% to 976
• Inventory decreased 5.8% to 8,273
For the month of February:
• Median Sales Price increased 6.2% to $265,500
• Days on Market remained flat at 69
• Percent of Original List Price Received decreased 0.3% to 97.7%
• Months Supply of Homes For Sale remained flat at 1.7