For Week Ending November 11, 2023
Despite sluggish home sales, US home prices have continued to increase, further impacting affordability for many prospective buyers. According to the latest S&P CoreLogic Case-Shiller Index, home prices were up 2.6% year-over-year and 0.4% month-over-month as of last measure, marking the seventh consecutive monthly increase. Additionally, the Federal Housing Finance Agency’s index found home prices increased 5.6% year-over-year and 0.6% month-over-month as of last measure.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING NOVEMBER 11:
- New Listings increased 12.0% to 981
- Pending Sales decreased 13.1% to 615
- Inventory decreased 5.3% to 8,711
FOR THE MONTH OF OCTOBER:
- Median Sales Price increased 2.4% to $365,000
- Days on Market increased 2.8% to 37
- Percent of Original List Price Received increased 0.2% to 98.4%
- Months Supply of Homes For Sale increased 20.0% to 2.4
All comparisons are to 2022
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.