Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending August 6, 2022 Quick Facts
Publish Date: August 15, 2022 • All comparisons are to 2021

marking the first time since April rates have dipped below 5%, according to Freddie
Mac. With rates down the past two weeks, the Mortgage Bankers Association
reports mortgage applications rose slightly from the previous week, including an
uptick in refinance applications, as buyers took advantage of the opportunity to
lock in lower rates and save on their monthly mortgage payment.
In the Twin Cities region, for the week ending August 6:
• New Listings decreased 21.7% to 1,560
• Pending Sales decreased 23.1% to 1,118
• Inventory increased 7.8% to 8,818
For the month of July:
• Median Sales Price increased 7.1% to $375,000
• Days on Market increased 15.8% to 22
• Percent of Original List Price Received decreased 2.0% to 101.5%
• Months Supply of Homes For Sale increased 20.0% to 1.8