Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending September 25, 2021

Publish Date: October 4, 2021 • All comparisons are to 2020

rate near zero, it was preparing to taper stimulus efforts put in place to combat the
pandemic, including winding down its bond purchase program. Experts expect
interest rates on mortgages, credit cards, car loans, and other consumer loans will
rise as the Fed tapers its bond purchases. Looking long-term, The National
Association of REALTORS® predicts the 30-year fixed-rate mortgage to rise to near
3.5% by mid-2022, about 60 basis points higher than they are today.
In the Twin Cities region, for the week ending September 25:
• New Listings decreased 15.1% to 1,556
• Pending Sales decreased 6.9% to 1,377
• Inventory decreased 14.3% to 8,451
For the month of August:
• Median Sales Price increased 11.1% to $350,000
• Days on Market decreased 43.6% to 22
• Percent of Original List Price Received increased 2.1% to 102.4%
• Months Supply of Homes For Sale decreased 26.3% to 1.4