Strength in consumer spending and a towering peak in industrial production are both indicators that the economy has made strides early on in the year. Despite the continuing decline in inventory, the housing market should be a bright spot in the national economy.
In the Twin Cities region, for the week ending February 27:
• New Listings decreased 4.7% to 1,456
• Pending Sales increased 1.5% to 1,074
• Inventory decreased 17.8% to 11,056
For the month of January:
• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Homes for Sale decreased 29.0% to 2.2
