For Week Ending September 19, 2020
In the latest National Association of Home Builders / Wells Fargo Housing Market Index report released this week, home builder confidence in the market for newly-built single-family homes rose five points from 78 in August to 83 in September, tying an all-time high in the 35-year history of the index. While lumber prices are up 170% from mid-April, adding more than $16,000 to the price of a typical new single-family home, strong demand by homebuyers has buoyed builders’ outlook.
In the Twin Cities region, for the week ending September 19:
- New Listings increased 8.6% to 1,854
- Pending Sales increased 25.8% to 1,527
- Inventory decreased 31.2% to 9,076
For the month of August:
- Median Sales Price increased 9.8% to $315,000
- Days on Market decreased 4.9% to 39
- Percent of Original List Price Received increased 1.3% to 100.3%
- Months Supply of Homes For Sale decreased 30.8% to 1.8
All comparisons are to 2019
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.