Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending August 13, 2022

Publish Date: August 22, 2022 • All comparisons are to 2021

searching for a home grew to 49% nationally in the second quarter of 2022, up from
46% the previous quarter, according to the National Association of Home Builders
(NAHB) recent Housing Trends Report. NAHB economists credit the rise in buyer
activity to a less competitive housing market, which has motivated more
prospective buyers to advance from the planning stage of the homebuying process
to actively trying to purchase a home.
In the Twin Cities region, for the week ending August 13:
• New Listings decreased 16.0% to 1,480
• Pending Sales decreased 22.6% to 1,173
• Inventory increased 5.4% to 8,948
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