Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending June 4, 2022
Publish Date: June 13, 2022 • All comparisons are to 2021

Nationally, lumber prices fell 12% the week ending June 3 and are down 47% year to-date, representing a 65% decline from 2021’s record high of $1,733 per
thousand board feet, according to the National Association of Home Builders
(NAHB). That could be good news for prospective homebuyers, who have watched
lumber prices skyrocket during the pandemic, adding more than $18,600 to the
average price of a new single-family home in the past year.
In the Twin Cities region, for the week ending June 4:
• New Listings decreased 2.1% to 1,772
• Pending Sales decreased 13.7% to 1,077
• Inventory increased 7.9% to 6,968
For the month of April:
• Median Sales Price increased 10.0% to $370,000
• Days on Market decreased 9.7% to 28
• Percent of Original List Price Received increased 0.5% to 103.8%
• Months Supply of Homes For Sale increased 9.1% to 1.2