Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending November 23, 2019
Publish Date: December 2, 2019 • All comparisons are to 2018

Commerce Department reports that new housing permits rose 5% in October to a
new 12-year high of 1.46 million units. Lawrence Yun, the National Association of
REALTORS® chief economist, called the latest figures “tremendously good news
for the housing sector.” With builder sentiment and buyer activity remaining strong,
it is widely expected that new construction will continue to remain brisk in the
coming months.
In the Twin Cities region, for the week ending November 23:
• New Listings increased 74.1% to 928
• Pending Sales increased 39.8% to 966
• Inventory decreased 6.6% to 10,724
For the month of October:
• Median Sales Price increased 5.7% to $280,000
• Days on Market decreased 4.2% to 46
• Percent of Original List Price Received increased 0.1% to 98.1%
• Months Supply of Homes For Sale decreased 4.0% to 2.4