The U.S. Labor Department reported that the economy added 157,000 jobs in July,
marking 93 months in a row of job additions. Beginning in October 2010, that is the
longest streak of monthly employment growth on record. The unemployment rate
dropped to a historically low 3.9 percent, and wage growth remained at an annual
rate of 2.7 percent. Meanwhile, escalating tariff conflicts with U.S. trade partners
have not yet impacted the day-to-day housing market, but builders have indicated
that lumber tariffs are increasing prices for new homes.
In the Twin Cities region, for the week ending July 28:
• New Listings increased 6.1% to 1,814
• Pending Sales increased 2.0% to 1,401
• Inventory decreased 12.5% to 11,959
For the month of June:
• Median Sales Price increased 5.3% to $271,000
• Days on Market decreased 16.7% to 40
• Percent of Original List Price Received increased 0.8% to 100.3%
• Months Supply of Homes For Sale decreased 11.1% to 2.4
All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime. Publish Date: August 6, 2018 • All comparisons are to 2017
No comments:
Post a Comment