As tricks and treats are planned, housing starts its preparation for a holiday season hibernation. Though activity hasn't come to a complete halt – there are still year-over-year gains being posted for listings and prices – the liveliness of the summer months has started to slow. Keep watch on any movements from the Fed, on economic indicators outside of housing and on the legislative tug-of-war. Each may play a part in predicting how the rest of the fourth quarter of 2013 goes.
In the Twin Cities region, for the week ending October 12:
• New Listings increased 21.7% to 1,524
• Pending Sales decreased 2.7% to 892
• Inventory decreased 5.6% to 16,113
For the month of September:
• Median Sales Price increased 11.7% to $195,000
• Days on Market decreased 29.7% to 71
• Percent of Original List Price Received increased 1.8% to 96.5%
• Months Supply of Inventory decreased 16.3% to 3.6
Source: Minneapolis Area Association of Realtors
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