Weekly Market Activity Report

Following the annual Independence Day break, the Twin Cities housing market rebounded the week ending July 14. Seller activity shot up almost 900 units from the previous week. There were 2,720 new listings on the market, down 4.2 percent from the same week in 2006. Buyers also returned from their holiday siesta, writing 893 new purchase agreements. While this is an increase over the previous week, it is behind last year at this time by 17.2 percent as the market remains in a relative power nap.