According to a recent Gallup poll, it is the first time in more than 15 years that a
majority of Americans are optimistic about finding a quality job. This is great news
for the entry-level housing market, as job growth and improved wages fuel demand
for home purchases. Rents have also been on the rise, another factor that has put
the entry-level market in strong demand.
In the Twin Cities region, for the week ending February 4:
• New Listings increased 3.3% to 1,282
• Pending Sales remained flat at 882
• Inventory decreased 24.0% to 8,399
For the month of January:
• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.1% to 79
• Percent of Original List Price Received increased 0.9% to 95.9%
• Months Supply of Homes For Sale decreased 26.1% to 1.7
Publish Date: February 13, 2017 • All comparisons are to 2016
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