Ruth Whitney Bowe

  • Search
  • Ruth Listings
  • Resources
    • Sellers
    • Buyers
  • Contact Ruth
  • Reviews
  • News

Weekly Market Report

August 14, 2023 by Ruth Whitney Bowe

For Week Ending August 5, 2023

According to ATTOM’s Q2 2023 Home Affordability Report, 98% of median-priced U.S. single-family homes and condos were less affordable than their historical averages in the second quarter of 2023, up from 94% in the first quarter, with the decline in affordability attributed in part to rising sales prices, which have continued to outpace wage growth. Nationally, median single-family home values rose 10% from the first quarter to the second quarter, with residents needing 33% of their income to cover major homeownership expenses, the highest level since 2007.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 5:

  • New Listings decreased 11.9% to 1,400
  • Pending Sales decreased 10.5% to 1,039
  • Inventory decreased 14.2% to 7,975

FOR THE MONTH OF JUNE:

  • Median Sales Price increased 0.5% to $382,000
  • Days on Market increased 47.6% to 31
  • Percent of Original List Price Received decreased 1.9% to 101.3%
  • Months Supply of Homes For Sale increased 17.6% to 2.0

All comparisons are to 2022

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

Filed Under: Inventory

Recent Posts

  • Mortgage Rates Remain Flat, Lingering Above Seven Percent
  • Existing Home Sales
  • Prices on the rise again after flattening out; seller activity may be stabilizing
  • New Listings and Pending Sales
  • Inventory
Main Logo

Greet me and meet me on social media. You can follow my new listings and changes in the marketplace on any of the following.
Follow me.

Navigation

  • Calculators
  • Finding A Loan Officer
  • Mortgage Glossary
  • The Loan Process
  • Metro Markets
  • Communities
  • Schools

Let’s stay in touch…

Realtor & Housing
Licensed In Minnesota

All information deemed reliable but not guaranteed and should be independently verified.

By searching you agree to the end user license agreement.

DMCA Copyright Notice.

Copyright © 2023 | MSLLC