For Week Ending March 23, 2019
As new listings continue to fail to gain traction and inventory struggles to keep pace with the already low figures from last year, one begins to wonder if the U.S. is poised for a real estate slowdown. Some observers are seeing this as an inevitability, as investors price out more typical, family-driven home buyers. Housing starts and permits are also trending downward, and research indicates that the percentage of sales with price reductions are on the rise.
In the Twin Cities region, for the week ending March 23:
- New Listings decreased 10.4% to 1,428
- Pending Sales decreased 16.5% to 1,030
- Inventory decreased 5.6% to 8,429
For the month of February:
- Median Sales Price increased 6.2% to $265,500
- Days on Market remained flat at 69
- Percent of Original List Price Received decreased 0.3% to 97.7%
- Months Supply of Homes For Sale remained flat at 1.7
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.