For Week Ending May 14, 2016
The U.S. housing market continues to churn out positive year-over-year sales numbers, but some markers of hesitation are worth watching. Some sellers hesitate to list their homes because they are not sure that they will find an attractive replacement for their own fast-selling home. Many young consumers, saddled with student loan debt and having transient tendencies, hesitate to commit to a home purchase longer than previous generations. Nevertheless, home starts are on the rise, and the market remains strong during the busiest weeks of the year.
In the Twin Cities region, for the week ending May 14:
- New Listings decreased 3.0% to 2,120
- Pending Sales increased 9.2% to 1,607
- Inventory decreased 18.4% to 13,344
For the month of April:
- Median Sales Price increased 7.8% to $231,750
- Days on Market decreased 14.1% to 73
- Percent of Original List Price Received increased 1.0% to 98.0%
- Months Supply of Inventory decreased 25.0% to 2.7
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.