Pending sales are back and ready to rumble along with their trusty comrade,
inventory. After a slower start to the year, the numbers are rallying for a comeback.
However, one number not rising is the number of people filing for unemployment.
According to the U.S. Department of Labor, jobless applications continued their
downward trend. This could help families pad downpayment funds. With more
inventory to choose from, there aren't any cheap shots in this boxing match.
In the Twin Cities region, for the week ending July 5:
• New Listings increased 14.8% to 1,269
• Pending Sales increased 17.4% to 1,045
• Inventory increased 7.7% to 17,587
For the month of June:
• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2
Source: Minneapolis Area Association of Realtors
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