Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending September 26, 2020
Publish Date: October 5, 2020 • All comparisons are to 2019

The Mortgage Bankers Association reported that the share of mortgages currently
in forbearance dropped to 6.93% as of September 13, 2020, the 15th weekly
decline in a row and its lowest level in five months. The share of mortgages in
forbearance peaked in June at 8.55%. The continued decline is a positive sign, but
current levels suggest many homeowners are still struggling from unemployment or
underemployment due to the pandemic.
In the Twin Cities region, for the week ending September 26:
• New Listings increased 11.2% to 1,747
• Pending Sales increased 27.7% to 1,449
• Inventory decreased 31.1% to 9,154
For the month of August:
• Median Sales Price increased 9.8% to $315,000
• Days on Market decreased 4.9% to 39
• Percent of Original List Price Received increased 1.3% to 100.3%
• Months Supply of Homes For Sale decreased 30.8% to 1.8