For Week Ending February 15, 2020
According to the latest REALTORS® Confidence Index Survey of more than 8,000 real estate respondents, one in four home sales faced a settlement delay in December 2019. Seventy-one percent closed on time and four percent were canceled altogether. The biggest reasons cited for a delayed closing were issues related to financing (37%), appraisal issues (19%), and home inspection/environmental issues (17%).
In the Twin Cities region, for the week ending February 15:
- New Listings increased 9.6% to 1,156
- Pending Sales increased 13.9% to 967
- Inventory decreased 14.8% to 7,692
For the month of January:
- Median Sales Price increased 4.2% to $270,000
- Days on Market increased 3.1% to 67
- Percent of Original List Price Received decreased 0.1% to 97.0%
- Months Supply of Homes For Sale decreased 11.1% to 1.6
All comparisons are to 2019
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.