Christine Hazel

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Weekly Market Report

April 17, 2023 by Christine Hazel

For Week Ending April 8, 2023

Housing affordability is slowly improving, according to ATTOM’s Q1 2023 U.S. Home Affordability Report. Among the 572 counties analyzed, 94% of median-priced single-family homes and condos were less affordable than their historical averages in the first quarter of 2023, falling from 99% in the fourth quarter of 2022. The portion of average wages needed for homeownership costs also declined slightly, with the typical total monthly mortgage payment (PITI) now requiring 29.9% of the average annual wage of $70,460, down from 31.2% in the fourth quarter last year.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 8:

  • New Listings decreased 36.5% to 1,007
  • Pending Sales decreased 31.9% to 893
  • Inventory increased 4.8% to 5,766

FOR THE MONTH OF FEBRUARY:

  • Median Sales Price increased 0.6% to $342,000
  • Days on Market increased 38.6% to 61
  • Percent of Original List Price Received decreased 3.6% to 97.2%
  • Months Supply of Homes For Sale increased 44.4% to 1.3

All comparisons are to 2022

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Filed Under: Weekly Report

Christine Hazel

Christine Hazel is a full-time, dedicated Realtor licensed in Minnesota with more than 10 years of real estate experience and success... (read more)

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