Woof, it's getting hot out there. The Twin Cities housing market is entering the dog days of summer, and with that comes a bit more stagnant air revolving around new inventory. The 1,637 new listings for the week ending August 1 are 12.2 percent below last year's numbers. Over the past few weeks, pending sales have been flat, but in year-over-year comparisons they are still 20.9 percent above 2008 numbers.
Two new stats for the week:
Days on Market Until Sale: Dropped by 6.6 percent over last year, from 146 to 137. Inventory is being swept up.
Percent of Original List Price: 94 percent. On a steady increase the past few months as is usually the case during the summer months.
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