While the housing market may have completed most of its back flips and jaw-dropping acrobatics, it is now showcasing steady knees and good traction. That
may mean fewer riskier tricks on the half-pipe but more endurance and stability
over the long haul. After several years of uncertainty followed by grueling
rehabilitation, steadier performance that matches expectation resonates well with
both current and prospective homeowners.
In the Twin Cities region, for the week ending February 1:
• New Listings decreased 16.9% to 934
• Pending Sales decreased 9.3% to 789
• Inventory decreased 9.1% to 11,984
For the month of January:
• Median Sales Price increased 12.4% to $179,900
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
• Months Supply of Inventory decreased 15.6% to 2.7
Source: Minneapolis Area Association of Realtors
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