As mortgage rates rise, median sales prices increase and stiff competition for low inventory continues, buyers are beginning to face some limitations with their housing options, especially for first-time buyers. That being said, for most weeks in 2017, sales have been higher in year-over-year comparisons with the same weeks in 2016.

In the Twin Cities region, for the week ending February 25:
• New Listings decreased 7.6% to 1,345
• Pending Sales decreased 6.7% to 980
• Inventory decreased 23.7% to 8,950

For the month of January:
• Median Sales Price increased 4.6% to $224,900
• Days on Market decreased 7.1% to 79
• Percent of Original List Price Received increased 0.9% to 95.9%
• Months Supply of Homes For Sale decreased 26.1% to 1.7