Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 25, 2023 Quick Facts
Publish Date: March 6, 2023 • All comparisons are to 2022

Market Index (HMI) survey, building material prices were the most significant issue
for US homebuilders last year, with 96% of builders reporting that building material
prices were a problem. Availability of building materials and cost and availability of
labor also ranked among the largest problems builders faced in 2022, along with
rising inflation and higher interest rates, both of which remain top concerns this year
for the majority of builders surveyed.
In the Twin Cities region, for the week ending February 25:
• New Listings decreased 35.3% to 743
• Pending Sales decreased 23.5% to 744
• Inventory increased 15.1% to 5,735
For the month of January:
• Median Sales Price increased 2.7% to $342,000
• Days on Market increased 46.3% to 60
• Percent of Original List Price Received decreased 3.6% to 96.0%
• Months Supply of Homes For Sale increased 55.6% to 1.4