Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending June 18, 2022 Quick Facts
Publish Date: June 27, 2022 • All comparisons are to 2021

basis points from the previous week and marking the largest one week increase
since 1987, according to Freddie Mac. Mortgage rates are nearly double compared
to this time last year, with rates spiking following the Federal Reserve’s recent
decision to raise the benchmark interest rate by three quarters of a percentage
point in order to help quash rising inflation.
In the Twin Cities region, for the week ending June 18:
• New Listings decreased 14.6% to 1,825
• Pending Sales decreased 11.6% to 1,377
• Inventory increased 7.8% to 7,687
For the month of May:
• Median Sales Price increased 9.0% to $375,000
• Days on Market decreased 4.2% to 23
• Percent of Original List Price Received increased 0.1% to 104.1%
• Months Supply of Homes For Sale increased 27.3% to 1.4