Low unemployment and cheap fuel are conspiring to help people spend money this holiday season, but not necessarily more than last year at this time. Early analysis of year-end shopping habits indicates a fairly average amount of purchases being made across the board, with items like clothing and electronics doing well, while automobiles and home goods are in mild sales decline. It all adds up to a mostly fiscally sound bunch of Americans who will not be coaxed into purchasing more than they want or can pay for. We have come a long way since the Great Recession, and the housing market is benefiting from smarter spending.
In the Twin Cities region, for the week ending December 5:
- New Listings increased 3.2% to 875
- Pending Sales increased 10.8% to 903
- Inventory decreased 16.7% to 13,097
For the month of November:
- Median Sales Price increased 7.3% to $219,900
- Days on Market decreased 7.6% to 73
- Percent of Original List Price Received increased 1.3% to 95.9%
- Months Supply of Inventory decreased 28.2% to 2.8
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