Weekly Market Update: July 27, 2015

Let's try to never forget how bad the U.S. housing market got. The Great Recession lasted from about December 2007 to June 2009. Ever since then, and particularly in the last couple of years, the market has strengthened to once again become a cornerstone in one of the strongest economies in the world. Better lending standards, low oil prices and higher wages are a few of the catalysts for positive change. As we tip into the second half of 2015, the trends still reveal stable housing in a stable economy.

In the Twin Cities region, for the week ending July 18:

 • New Listings decreased 7.8% to 1,758
 • Pending Sales increased 7.7% to 1,210
 • Inventory decreased 9.1% to 16,973

For the month of June:

 • Median Sales Price increased 4.7% to $229,900
 • Days on Market decreased 5.7% to 66
 • Percent of Original List Price Received increased 0.5% to 97.7%
 • Months Supply of Inventory decreased 15.9% to 3.7

Source:  Minneapolis Area Association of Realtors