National home prices reached a record high, increasing 0.1 percent from the prerecession
peak in 2006. This height – driven by low inventory, solid demand and
responsible lending practices – is much different from the previous high mark.
Inflation is also a factor. Interest rates, unemployment, prices and wage trends will
continue to be factors to monitor for trend analysis as we reach toward 2017.
In the Twin Cities region, for the week ending November 26:
• New Listings decreased 6.7% to 502
• Pending Sales decreased 5.7% to 595
• Inventory decreased 19.9% to 11,571
For the month of October:
• Median Sales Price increased 6.5% to $230,000
• Days on Market decreased 14.3% to 60
• Percent of Original List Price Received increased 0.8% to 96.9%
• Months Supply of Homes For Sale decreased 21.2% to 2.6
Publish Date: December 5, 2016 • All comparisons are to 2015
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