The Mortgage Bankers Association reported that their Purchase Index of mortgage applications was 19 percent higher than the same week one year ago. Continued high levels of home purchase mortgage applications suggests that home buyer interest and activity will remain strong in the coming weeks.

In the Twin Cities region, for the week ending July 25:
• New Listings increased 0.7% to 1,777
• Pending Sales increased 8.8% to 1,499
• Inventory decreased 28.7% to 9,303

For the month of June:
• Median Sales Price increased 5.2% to $305,000
• Days on Market increased 2.4% to 42
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale decreased 25.9% to 2.0