Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending May 16, 2020
Publish Date: May 26, 2020 • All comparisons are to 2019

More than 4.1 million homeowners are now in mortgage forbearance plans,
according to the Mortgage Bankers Association's latest survey. Homeowners
affected by COVID-19 with a federally backed home loan can delay mortgage
payments for up to a year as part of the CARES Act passed by Congress. While the
latest numbers are an increase from last week, it was the smallest increase since
March 10th.
In the Twin Cities region, for the week ending May 16:
• New Listings decreased 27.5% to 1,599
• Pending Sales decreased 8.0% to 1,341
• Inventory decreased 13.6% to 9,791
For the month of April:
• Median Sales Price increased 8.9% to $305,000
• Days on Market decreased 17.5% to 47
• Percent of Original List Price Received increased 0.5% to 99.9%
• Months Supply of Homes For Sale decreased 13.6% to 1.9