Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 1, 2020

Publish Date: February 10, 2020 • All comparisons are to 2019

A newly released report from the U.S. Census Bureau shows in Q4 2019 the national homeownership rate rose to 65.1%. This is the highest level since Q3 2013 when the homeownership rate was 65.3%. For perspective, the national homeownership rate since 2000 peaked at 69.1% in Q1 2005 and was at its lowest at 62.9% in Q2 2016. The increase in the homeownership rate since Q2 2016 represents nearly 2.7 million additional owner-occupied homes. In the Twin Cities region, for the week ending February 1: • New Listings increased 4.5% to 978 • Pending Sales increased 6.1% to 904 • Inventory decreased 15.5% to 7,621 For the month of December: • Median Sales Price increased 7.9% to $278,200 • Days on Market decreased 1.8% to 56 • Percent of Original List Price Received increased 0.5% to 97.3% • Months Supply of Homes For Sale decreased 15.8% to 1.6.

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