Weekly Market Activity Report - The Skinny

Transparency. We like it when our politicians, stock brokers and mechanics have it. But what about our housing markets? It's empowering to know that home sales were up 10.0 percent in your state, or that the average home sold for 250,000 in your city or that 20.0 percent of sales in your neighborhood were foreclosures. It allows – no – it encourages both existing and would-be home buyers to make smarter decisions, which ultimately conserves the increasingly scarce taxpayer dollar. In turn, that allows us to invest in things we value as a society like infrastructure, technology, education, research and job training.

In the Twin Cities region, for the week ending February 9:
• New Listings decreased 6.7% to 1,229
• Pending Sales increased 5.3% to 914
• Inventory decreased 31.2% to 12,225

For the month of January:
• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 42.0% to 2.9

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