For Week Ending June 27, 2020

The National Association of REALTORS® shared in their latest REALTORS® Confidence Index Survey of more than 4,000 members that there were nearly three offers for every home sold in May, which is up from a little more than two offers for every sold home in the April survey. Buyer activity, seen in both showings and Pending Sales, has been strong while seller activity, seen in New Listings, has lagged a bit, suggesting that multiple offer situations continue to be common and will likely remain so in the coming weeks.

In the Twin Cities region, for the week ending June 27:

• New Listings decreased 16.9% to 1,612
• Pending Sales increased 3.1% to 1,606
• Inventory decreased 25.0% to 9,705

For the month of May:

• Median Sales Price increased 3.5% to $294,900
• Days on Market decreased 8.9% to 41
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale decreased 16.0% to 2.1

All comparisons are to 2019

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending June 20, 2020

Housing starts in May rose 4.3% to an annual rate of 974,000, its first increase since January and up from a five-year low of 934,000 in April. The increase was less than expected by economists but builder permits were up 14.4% for the month to 1.22 million annually, signaling higher housing starts are likely in the near future.

In the Twin Cities region, for the week ending June 20:

• New Listings decreased 16.4% to 1,728
• Pending Sales increased 3.4% to 1,594
• Inventory decreased 22.8% to 9,871

For the month of May:

• Median Sales Price increased 3.5% to $294,900
• Days on Market decreased 8.9% to 41
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale decreased 16.0% to 2.1

All comparisons are to 2019

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.