Confidence in buying a home has fallen according to the Fannie Mae Home
Purchase Sentiment Index after hitting an all-time index high in February.
Continuing price increases and low inventory are easy answers for why the index
fell. The good news is that an improved employment outlook and higher wages are
major factors toward purchasing a home, and demand is not expected to abate.
In the Twin Cities region, for the week ending April 1:
• New Listings decreased 3.9% to 1,874
• Pending Sales decreased 5.2% to 1,303
• Inventory decreased 21.7% to 10,003
For the month of February:
• Median Sales Price increased 7.7% to $223,250
• Days on Market decreased 14.6% to 82
• Percent of Original List Price Received increased 1.4% to 96.5%
• Months Supply of Homes For Sale decreased 28.0% to 1.8
Publish Date: April 10, 2017 • All comparisons are to 2016