For Week Ending September 12, 2015

With home prices steadily rising in year-over-year comparisons, houses are becoming less affordable for buyers – but not less desirable. Thanks in part to the improving job market, there has been more demand from both buyers and renters. Mimicking this, housing starts have climbed nicely in the past year, and recent studies indicate the percentages of housing starts will remain strong in the coming months.

In the Twin Cities region, for the week ending September 12:

  • New Listings decreased 6.0% to 1,549
  • Pending Sales decreased 0.8% to 965
  • Inventory decreased 14.1% to 16,433

For the month of August:

  • Median Sales Price increased 2.7% to $224,900
  • Days on Market decreased 5.9% to 64
  • Percent of Original List Price Received increased 0.8% to 97.1%
  • Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

Click here for the full Weekly Market Activity Report. From The Skinny Blog.