was thought that tastes had changed, especially among Millennials, and that
people craved more mobility through rentals and smaller, more urban homes. Then
something happened earlier this year: Millennials drove up the homeownership rate.
Judging by continued buyer demand well into autumn, it would seem that owning a
home is still as desirable today as it was 50 years ago.
In the Twin Cities region, for the week ending October 14:
• New Listings decreased 1.7% to 1,365
• Pending Sales decreased 5.1% to 1,027
• Inventory decreased 17.2% to 12,247
For the month of September:
• Median Sales Price increased 7.2% to $246,500
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Homes For Sale decreased 16.7% to 2.5
Publish Date: October 23, 2017 • All comparisons are to 2016
Information gathered from MAAR
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