Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending August 1, 2020
Publish Date: August 10, 2020 • All comparisons are to 2019

contracted at a 32.9% annual rate in Q2 2020, the housing market continues to
show strength. Freddie Mac reported 30-year fixed-rate mortgages are hovering
around 3% with .8 points, which is three-quarters of a percent lower than this time
last year. With showing activity and pending sales still posting strong numbers, the
housing market looks to continue to be a bright spot in economic activity.
In the Twin Cities region, for the week ending August 1:
• New Listings decreased 12.1% to 1,774
• Pending Sales increased 9.0% to 1,563
• Inventory decreased 28.2% to 9,332
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 25.9% to 2.0