The unemployment rate rose to 4.0 percent last month, a seven-month high. This may prove to be a forgettable blip, as other economic indicators are showing continued strength in the job force, including 100 straight months of employment gains punctuated by the most hiring in 11 months. The construction sector had its best month of employment since last February. With the Fed holding off on further interest rate increases, 2019 is beginning favorably for residential real estate.
In the Twin Cities region, for the week ending January 26:
• New Listings increased 6.1% to 938
• Pending Sales increased 5.5% to 783
• Inventory increased 2.9% to 8,100
For the month of December:
• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Homes For Sale increased 13.3% to 1.7
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