For Week Ending March 19, 2016

Heading into the spring buying season, consumers are, on average, earning higher incomes than in recent years, and there is greater trust in job security compared to last year. While these factors heighten confidence in the health of the housing market, home buyers – and especially first timers – would benefit from more inventory and slow price increases.

In the Twin Cities region, for the week ending March 19:

• New Listings decreased 3.1% to 1,762
• Pending Sales increased 6.0% to 1,288
• Inventory decreased 17.8% to 11,959

For the month of February:

• Median Sales Price increased 3.5% to $207,083
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 25.0% to 2.4

All comparisons are to 2015

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