Optimistic housing start stats encourage rumors that 2014 should be another year
of recovering. Activity may not be volatile enough to garner bold headlines, which
suits residential real estate markets just fine. The steady-as-she-goes pace and
quietly consistent good news should bring out a few more previously underwater
sellers to list their homes. Keep an eye out for fresh inventory and keen interest
from hungry buyers.
In the Twin Cities region, for the week ending January 25:
• New Listings decreased 11.9% to 914
• Pending Sales decreased 13.0% to 663
• Inventory decreased 8.6% to 12,050
For the month of December:
• Median Sales Price increased 13.1% to $190,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7
Source: Minneapolis Area Association of Realtors
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