For Week Ending June 17, 2017

As Millennials get older and more established in their careers, more of them are entering the housing market. Nationwide sales rose to the third-highest level since the housing crisis a decade ago, while home prices also hit record highs. Although increasing prices may push some out of the running for a home purchase, mortgage rates remain low enough to lure potential buyers.

In the Twin Cities region, for the week ending June 17:

• New Listings decreased 6.6% to 1,840
• Pending Sales decreased 4.8% to 1,396
• Inventory decreased 16.2% to 12,316

For the month of May:

• Median Sales Price increased 5.5% to $250,000
• Days on Market decreased 15.0% to 51
• Percent of Original List Price Received increased 0.9% to 99.5%
• Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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