For Week Ending April 29, 2023
Homeownership remains a key driver to building wealth. According to a recent report from the National Association of REALTORS®, middle-class homeowners saw the median value of their homes appreciate $122,070, or 68%, over the last decade. Meanwhile, lower income homeowners saw a 75% gain in the median value of their homes, with an increase of $98,910 in wealth solely from home price appreciation, while upper income homeowners saw an increase of $150,810 in wealth from their homes in the last 10 years.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 29:
- New Listings decreased 27.3% to 1,303
- Pending Sales decreased 26.2% to 1,045
- Inventory increased 2.7% to 6,259
FOR THE MONTH OF MARCH:
- Median Sales Price remained flat at $355,000
- Days on Market increased 65.7% to 58
- Percent of Original List Price Received decreased 4.0% to 98.6%
- Months Supply of Homes For Sale increased 36.4% to 1.5
All comparisons are to 2022
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.