This year has brought sustained turnaround in a variety of areas and market segments. It’s why many in the housing industry are optimistic about 2013. Attractive mortgage rates, affordable inventory and a healing jobs picture give reason to believe that year-over-year improvements will continue into and after the traditional holiday slowdown.
In the Twin Cities region, for the week ending December 1:
∙ New Listings increased 0.7% to 1,019 ∙ Pending Sales increased 18.6% to 977 ∙ Inventory decreased 29.0% to 14,260
For the month of November:
∙ Median Sales Price increased 16.9% to $173,000 ∙ Days on Market decreased 25.9% to 103 ∙ Percent of Original List Price Received increased 3.7% to 94.3% ∙ Months Supply of Inventory decreased 40.6% to 3.4