Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 18, 2020
Publish Date: July 27, 2020 • All comparisons are to 2019

starts in June rose 17.3% to a seasonally adjusted annual rate of 1.19 million units,
with single-family units leading the way with a 17.2% increase to a seasonally
adjusted rate of 831,000 per year. With demand for housing strong across most of
the nation, this increase in new construction is welcome, but will do little to
significantly impact the lack of housing inventory nationwide.
In the Twin Cities region, for the week ending July 18:
• New Listings decreased 9.1% to 1,753
• Pending Sales increased 10.2% to 1,541
• Inventory decreased 27.2% to 9,339
For the month of June:
• Median Sales Price increased 5.2% to $304,995
• 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