For Week Ending October 15, 2016

Housing starts may have fallen for the second month in a row, but the cause appears to be an abnormally large decline in the multifamily category. An increase in single-family starts and building permits is a better indicator of a market reacting positively to the prevailing inventory struggle.

In the Twin Cities region, for the week ending October 15:

• New Listings increased 5.0% to 1,364
• Pending Sales decreased 0.1% to 994
• Inventory decreased 16.2% to 13,795

For the month of September:

• Median Sales Price increased 3.6% to $230,000
• Days on Market decreased 13.8% to 56
• Percent of Original List Price Received increased 0.9% to 97.5%
• Months Supply of Inventory decreased 20.0% to 2.8

All comparisons are to 2015

Click here for the full Weekly Market Activity Report. From The Skinny Blog.