For Week Ending November 9, 2019
With the stock market reaching record highs, continued low unemployment, and low mortgage rates, many signs in the US economy remain strong. However, total household debt has been rising for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous peak of $12.68 trillion in 2008. While delinquency rates remain low across most debt types, including mortgages, higher consumer debt loads can limit future household spending capability and increase risk if the economy slows down.
In the Twin Cities region, for the week ending November 9:
- New Listings increased 6.3% to 1,094
- Pending Sales increased 1.6% to 992
- Inventory decreased 5.9% to 11,463
For the month of October:
- Median Sales Price increased 5.7% to $280,000
- Days on Market decreased 4.2% to 46
- Percent of Original List Price Received increased 0.1% to 98.1%
- Months Supply of Homes For Sale decreased 4.0% to 2.4
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
