Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending April 22, 2023
Publish Date: May 1, 2023 • All comparisons are to 2022

Builders (NAHB) Chief Economist Robert Dietz, one-third of current housing supply
is new construction, far above the historical norm of 10%. With only 2.6 months’ of
existing-home supply as of last measure, prospective buyers have been
increasingly turning to the new home market, which, along with builders’ use of
sales incentives, have helped support new home sales in recent months.
In the Twin Cities region, for the week ending April 22:
• New Listings decreased 27.0% to 1,344
• Pending Sales decreased 17.0% to 975
• Inventory increased 5.0% to 6,065
For the month of March:
• Median Sales Price remained flat at $355,000
• Days on Market increased 65.7% to 58
• Percent of Original List Price Received decreased 4.0% to 98.6%
• Months Supply of Homes For Sale increased 36.4% to 1.5