Christine Hazel

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Weekly Market Report

August 22, 2022 by Christine Hazel

For Week Ending August 13, 2022

After declining for three consecutive quarters, the share of homebuyers actively searching for a home grew to 49% nationally in the second quarter of 2022, up from 46% the previous quarter, according to the National Association of Home Builders (NAHB) recent Housing Trends Report. NAHB economists credit the rise in buyer activity to a less competitive housing market, which has motivated more prospective buyers to advance from the planning stage of the homebuying process to actively trying to purchase a home.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 13:

  • New Listings decreased 16.0% to 1,480
  • Pending Sales decreased 22.6% to 1,173
  • Inventory increased 5.4% to 8,948

FOR THE MONTH OF JULY:

  • Median Sales Price increased 7.1% to $375,000
  • Days on Market increased 15.8% to 22
  • Percent of Original List Price Received decreased 2.0% to 101.5%
  • Months Supply of Homes For Sale increased 20.0% to 1.8

All comparisons are to 2021

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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