the new-home market spurred on by ongoing job and economic growth, the
continuation of attractive mortgage rates and increased consumer confidence. And
there does appear to be a notable increase in building or announced building
projects around the country. Builder confidence tends to equate with more
construction starts, which would be welcome news in an era of low inventory.
In the Twin Cities region, for the week ending September 16:
• New Listings decreased 5.7% to 1,536
• Pending Sales decreased 7.1% to 1,084
• Inventory decreased 16.5% to 12,740
For the month of August:
• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Homes For Sale decreased 16.7% to 2.5
Publish Date: September 25, 2017 • All comparisons are to 2016
Information gathered from MAAR
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