For Week Ending August 1, 2020
While the Bureau of Economic Analysis reported this week that the US economy contracted at a 32.9% annual rate in Q2 2020, the housing market continues to show strength. Freddie Mac reported 30-year fixed-rate mortgages are hovering around 3% with .8 points, which is three-quarters of a percent lower than this time last year. With showing activity and pending sales still posting strong numbers, the housing market looks to continue to be a bright spot in economic activity.
In the Twin Cities region, for the week ending August 1:
- New Listings decreased 12.1% to 1,774
- Pending Sales increased 9.0% to 1,563
- Inventory decreased 28.2% to 9,332
For the month of June:
- Median Sales Price increased 5.2% to $305,000
- Days on Market increased 2.4% to 42
- Percent of Original List Price Received decreased 0.4% to 99.6%
- Months Supply of Homes For Sale decreased 25.9% to 2.0
All comparisons are to 2019
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
