Weekly figures show seller activity switching between year-over-year gains
and losses while buyer activity steadily marches higher. That type of
environment has translated into inventory declines between 12.0 and 17.0
percent over the last several weeks. Interest rates are still around 4.0 percent,
but a surprisingly strong jobs report could spell upward rate pressure.
In the Twin Cities region, for the week ending October 31:
• New Listings increased 1.9% to 1,096
• Pending Sales increased 0.6% to 933
• Inventory decreased 16.2% to 15,440
For the month of October:
• Median Sales Price increased 4.9% to $218,000
• Days on Market decreased 2.8% to 70
• Percent of Original List Price Received increased 1.1% to 96.2%
• Months Supply of Inventory decreased 25.6% to 3.2
Source: Minneapolis Area Association of Realtors
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