A plethora of economic data was recently released, and it shows that exports rose
to their highest level ever while job growth numbers have surpassed even the most hopeful Wall Street expectations. But good news isn’t always good news, since this means that the Fed is going to begin tapering its historic bond-buying activity as the economy heals. Stocks may take a dip. But, with some luck, the demand-side effect of the impending rate increase could be offset by stronger economic fundamentals that should keep the housing market humming along.
In the Twin Cities region, for the week ending December 14:
- New Listings decreased 1.9% to 759
- Pending Sales decreased 11.1% to 656
- Inventory decreased 6.5% to 13,728
For the month of November:
- Median Sales Price increased 13.4% to $195,000
- Days on Market decreased 26.5% to 75
- Percent of Original List Price Received increased 1.3% to 95.4%
- Months Supply of Inventory decreased 11.1% to 3.2
All comparisons are to 2012
Click here for the full Weekly Market Activity Report.From The Skinny.