While the housing market may have completed most of its backflips and jaw-dropping acrobatics, it is now showcasing steady knees and good traction. That may mean fewer riskier tricks on the half-pipe but more endurance and stability over the long haul. After several years of uncertainty followed by grueling rehabilitation, steadier performance that matches expectation resonates well with both current and prospective homeowners.
In the Twin Cities region, for the week ending February 1:
- New Listings decreased 16.9% to 934
- Pending Sales decreased 9.4% to 788
- Inventory decreased 9.5% to 11,936
For the month of January:
- Median Sales Price increased 12.4% to $179,900
- Days on Market decreased 12.3% to 93
- Percent of Original List Price Received remained flat at 93.5
- Months Supply of Inventory decreased 15.6% to 2.7
All comparisons are to 2013
Click here for the full Weekly Market Activity Report.From The Skinny.