For Week Ending February 1, 2020
A newly released report from the U.S. Census Bureau shows in Q4 2019 the national homeownership rate rose to 65.1%. This is the highest level since Q3 2013 when the homeownership rate was 65.3%. For perspective, the national homeownership rate since 2000 peaked at 69.1% in Q1 2005 and was at its lowest at 62.9% in Q2 2016. The increase in the homeownership rate since Q2 2016 represents nearly 2.7 million additional owner-occupied homes.
In the Twin Cities region, for the week ending February 1:
- New Listings increased 4.5% to 978
- Pending Sales increased 6.1% to 904
- Inventory decreased 15.5% to 7,621
For the month of December:
- Median Sales Price increased 7.9% to $278,200
- Days on Market decreased 1.8% to 56
- Percent of Original List Price Received increased 0.5% to 97.3%
- Months Supply of Homes For Sale decreased 15.8% to 1.6
All comparisons are to 2019
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.