Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 11, 2020 Quick Facts
Publish Date: July 20, 2020 • All comparisons are to 2019

reported that rates on a 30-year fixed-rate mortgage fell to a new record low of
3.03% with an average of .8 points. That is down from 3.07% last week and 3.75%
from the same week a year ago. Record-low rates are continuing to boost already
strong buyer demand throughout most of the country and economists expect rates
to continue to remain low in the near future.
In the Twin Cities region, for the week ending July 11:
• New Listings decreased 18.8% to 1,834
• Pending Sales decreased - 0.5% to 1,507
• Inventory decreased 25.9% to 9,287
For the month of June:
• Median Sales Price increased 5.2% to $305,000
• Days on Market increased 2.4% to 42
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale decreased 29.6% to 1.9