For Week Ending September 21, 2019

This week the National Association of REALTORS® reported that nationally, August existing-home sales rose 2.6% from a year ago. Additionally, the Federal Reserve announced a rate cut for the second time in seven weeks, though this was widely expected and largely factored into mortgage rates already. A strong economy along with mortgage rates near their lows for the year continue to support healthy housing demand.

In the Twin Cities region, for the week ending September 21:

  • New Listings increased 7.6% to 1,676
  • Pending Sales decreased 2.4% to 1,158
  • Inventory decreased 4.4% to 12,628

For the month of August:

  • Median Sales Price increased 6.9% to $286,500
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.2% to 99.0%
  • Months Supply of Homes For Sale remained flat at 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mighty Agent 2019-09-30 17:53:57