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
