As the major stock market indexes continue to be at or near record highs, we find the housing market in high demand as well. Mortgage rates are still at or near record lows and home buyer activity remains strong. While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing market, healthy housing demand fundamentals today will create significant tailwinds in the near term.

In the Twin Cities region, for the week ending August 8:

• New Listings increased 0.5% to 1,839
• Pending Sales increased 19.1% to 1,663
• Inventory decreased 29.4% to 9,291

For the month of July:

• Median Sales Price increased 10.6% to $313,000
• Days on Market increased 7.9% to 41
• Percent of Original List Price Received increased 0.5% to 100.1%
• Months Supply of Homes For Sale decreased 29.6% to 1.9

All comparisons are to 2019

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