Signals. They’re everywhere. From the flow of traffic on Main Street to the movement of electrons inside a microchip, we take our cues from trusted indicators. Recently, housing data has been signaling increased momentum toward recovery. It doesn’t really matter what signals you’re watching either. From new starts, existing sales and prices to market times, seller concessions and the supply-demand balance, all signals point to healing. It won’t necessarily be quick nor felt evenly across all cities or states. But the trend is your friend. And our friend is signaling a thumb’s up.
In the Twin Cities region, for the week ending September 1:
• New Listings decreased 10.1% to 1,171 • Pending Sales increased 13.3% to 1,025 • Inventory decreased 30.0% to 16,676
For the month of August:
• Median Sales Price increased 15.5% to $179,000 • Days on Market decreased 24.1% to 107 • Percent of Original List Price Received increased 4.2% to 95.1% • Months Supply of Inventory decreased 42.7% to 4.1