The calendar can sometimes have just as profound an effect on housing data as
supply and demand. The 2013 Thanksgiving holiday was a week later than in
2012, causing some peculiar shifts in activity. This serves as a good reminder to
watch for calendar oddities just as much as you do economic indicators. Even so,
aside from family time and tryptophan, buyers and sellers had a lot to be grateful
for this Thanksgiving. Buyers still live in a time of great affordability, and sellers
should be thankful for shorter market times, higher prices and less competition.
In the Twin Cities region, for the week ending November 30:
- New Listings decreased 47.0% to 540
- Pending Sales decreased 38.5% to 579
- Inventory decreased 4.5% to 14,582
For the month of November:
- Median Sales Price increased 13.4% to $195,000
- Days on Market decreased 26.5% to 75
- Percent of Original List Price Received increased 1.3% to 95.4%
- Months Supply of Inventory decreased 11.1% to 3.2
All comparisons are to 2012
Click here for the full Weekly Market Activity Report.From The Skinny.