Wednesday, October 28, 2015

Weekly Market Update: October 26, 2015

Jobless claims have dropped once again, matching levels not seen since 1973. Housing sales have continued to perform well, which should not be a surprise to those active in the real estate industry. Good economic environments foster healthy housing, and persistent health should lead to a Federal Reserve rate hike before the year is over.

In the Twin Cities region, for the week ending October 17:

 • New Listings decreased 0.2% to 1,301
 • Pending Sales increased 9.8% to 1,001
 • Inventory decreased 15.3% to 15,895

For the month of September:

 • Median Sales Price increased 8.3% to $222,000
 • Days on Market decreased 8.5% to 65
 • Percent of Original List Price Received increased 1.0% to 96.6%
 • Months Supply of Inventory decreased 26.1% to 3.4

Source:  Minneapolis Area Association of Realtors

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