The U.S. Bureau of Economic Analysis released its estimate for the country’s Q3 2020 GDP, showing the U.S. gross domestic product grew at an annualized rate of 33.1% in the third quarter, reversing much of the decline from COVID-19 seen from the second quarter. However, economists caution it may take a year or more for the gross domestic product to reach its previous highs.
In the Twin Cities region, for the week ending October 31:
• New Listings decreased 6.4% to 1,161
• Pending Sales increased 14.7% to 1,246
• Inventory decreased 32.5% to 8,450
For the month of September:
• Median Sales Price increased 10.8% to $310,000
• Days on Market decreased 15.9% to 37
• Percent of Original List Price Received increased 2.0% to 10
