Residential construction, builder confidence and housing starts have all been up in recent months, creating a triple dose of good news as the country begins the inevitable home sales slowdown following the busy spring and summer seasons. The news creates hope that buyer traffic could maintain at a sufficient level over the last several months of the year.
In the Twin Cities region, for the week ending August 13:
• New Listings decreased 5.5% to 1,651
• Pending Sales decreased 2.8% to 1,229
• Inventory decreased 17.3% to 14,521
For the month of July:
• Median Sales Price increased 6.6% to $239,900
• Days on Market decreased 14.3% to 54
• Percent of Original List Price Received increased 0.8% to 98.4%
• Months Supply of Homes For Sale decreased 21.1% to 3.0
