For Week Ending November 4, 2017

New tax legislation that could affect the housing market is still currently being discussed and debated by the U.S. Senate and House of Representatives, but it appears that important tools used by homeowners, like the mortgage interest deduction, are in line to continue in some capacity. This continuity would be useful for maintaining a positive outlook for residential real estate.

In the Twin Cities region, for the week ending November 4:

• New Listings decreased 8.7% to 1,017
• Pending Sales increased 0.8% to 1,076
• Inventory decreased 15.3% to 11,585

For the month of September:

• Median Sales Price increased 7.4% to $247,000
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

For Week Ending October 28, 2017

The national unemployment rate registered in at 4.1 percent for October 2017. To put that in perspective, joblessness has not been this low in the U.S. since December 2000. In other positive economic news, mortgage rates have been holding steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. Factors such as these keep the pool of potential buyers full, even during the so-called off-season of residential real estate sales.

In the Twin Cities region, for the week ending October 28:

• New Listings increased 2.7% to 1,076
• Pending Sales decreased 2.2% to 1,001
• Inventory decreased 16.4% to 11,932

For the month of September:

• Median Sales Price increased 7.4% to $247,000
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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