Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 16, 2022 Quick Facts

Publish Date: July 25, 2022 • All comparisons are to 2021

continue renting, adding additional pressure to an already highly competitive rental
market. Rental vacancy rates have remained below 6% since Q3 2021, a 3-decade
low, the U.S. Census Bureau reports. As demand continues to outpace supply,
rents on new leases have surged 14.1% this year through June, according to
Apartment List, a huge leap from the typical 2% - 3% annual rent increases before
the pandemic.
In the Twin Cities region, for the week ending July 16:
• New Listings decreased 11.5% to 1,750
• Pending Sales decreased 24.8% to 1,097
• Inventory increased 10.1% to 8,441
For the month of June:
• Median Sales Price increased 8.6% to $380,000
• Days on Market increased 5.0% to 21
• Percent of Original List Price Received decreased 0.8% to 103.3%
• Months Supply of Homes For Sale increased 23.1% to 1.6