Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 12, 2022 Quick Facts

Publish Date: February 21, 2022 • All comparisons are to 2021

ending February 10, up 14 basis points from a week earlier and a full point higher
than the record low of 2.65% at the beginning of 2021. Rising interest rates and
increasing housing prices continue to impact affordability, and buyer sentiment is
softening as a result, with the mortgage application Purchase Index falling 7% from
the same week last year, according to the Mortgage Bankers Association.
In the Twin Cities region, for the week ending February 12:
• New Listings decreased 12.1% to 1,040
• Pending Sales decreased 9.1% to 910
• Inventory decreased 20.0% to 4,371
For the month of January:
• Median Sales Price increased 10.6% to $332,950
• Days on Market decreased 2.4% to 41
• Percent of Original List Price Received increased 0.1% to 99.6%
• Months Supply of Homes For Sale decreased 20.0% to 0.8