The typical winter humdrum has hit the U.S. real estate market, with the same
trends from late January continuing into February. Fewer home choices means less
competition for sellers, and buyers are still in the housing game with federal rate
hikes not anticipated to deter home buying in 2016, as mortgage rates are expected
to stay low.
In the Twin Cities region, for the week ending February 6:
• New Listings decreased 17.6% to 1,235
• Pending Sales increased 3.4% to 890
• Inventory decreased 21.0% to 10,257
For the month of January:
• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Homes For Sale decreased 32.3% to 2.1
Publish Date: February 15, 2016 • All comparisons are to 2015
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