Wednesday, October 12, 2016

Weekly Market Activity Report For Week Ending October 1, 2016

As the struggle to maintain adequate inventory levels continues in much of the
country, a number of influences have been named as factors in the housing
shortage. One probable cause is the large decline in negative equity on homes that
were bought before the recession. As prices continue to go up, those homes are
either placed on the market and snatched up quickly or they may have even risen to
a less affordable price for today's home shoppers.

In the Twin Cities region, for the week ending October 1:
 • New Listings increased 3.9% to 1,429
 • Pending Sales decreased 4.0% to 1,066
 • Inventory decreased 16.5% to 14,125

For the month of September:
 • Median Sales Price increased 3.6% to $230,000
 • Days on Market decreased 13.8% to 56
 • Percent of Original List Price Received increased 0.9% to 97.5%
 • Months Supply of Homes For Sale decreased 20.0% to 2.8

Publish Date: October 10, 2016 • All comparisons are to 2015

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