For Week Ending November 26, 2016

National home prices reached a record high, increasing 0.1 percent from the pre-recession peak in 2006. This height – driven by low inventory, solid demand and responsible lending practices – is much different from the previous high mark. Inflation is also a factor. Interest rates, unemployment, prices and wage trends will continue to be factors to monitor for trend analysis as we reach toward 2017.

In the Twin Cities region, for the week ending November 26:

• New Listings decreased 6.7% to 502
• Pending Sales decreased 5.7% to 595
• Inventory decreased 19.9% to 11,571

For the month of October:

• Median Sales Price increased 6.5% to $230,000
• Days on Market decreased 14.3% to 60
• Percent of Original List Price Received increased 0.8% to 96.9%
• Months Supply of Inventory decreased 21.2% to 2.6

All comparisons are to 2015

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending November 19, 2016

With the holiday season in full swing, existing home sales rose for the second straight month to the highest they have been since 2007. This was unexpected, since prices are also at record highs and inventory is still consistently declining. As both incomes and employment figures continue to improve, it would be a welcome surprise to see sales trend higher through to the end of the year.

In the Twin Cities region, for the week ending November 19:

• New Listings increased 10.9% to 950
• Pending Sales increased 8.0% to 902
• Inventory decreased 19.7% to 11,975

For the month of October:

• Median Sales Price increased 6.5% to $230,000
• Days on Market decreased 14.3% to 60
• Percent of Original List Price Received increased 0.8% to 96.9%
• Months Supply of Inventory decreased 21.2% to 2.6

All comparisons are to 2015

Click here for the full Weekly Market Activity Report. From The Skinny Blog.