Twin Cites Jobs Better Than Expected!

With February's jobs data in the Twin Cities is looking better than expected and inflation running well
within the Fed's target range, mortgage rates ticked higher. It s not much,
and this affordability environment is still hugely attractive, but it's just enough to
notice. Combined with low inventory, low rates have been a prominent motivation
for buyers. Twin Cities Home Source sellers need the real encouragement these days. Consistent yearover-
year price gains have proven insufficient thus far, but that's subject to
change come spring.
In the Twin Cities region, for the week ending March 9:
• New Listings decreased 6.1% to 1,361
• Pending Sales increased 10.9% to 1,019
• Inventory decreased 30.7% to 12,476
For the month of February:
• Median Sales Price increased 15.5% to $160,000
• Days on Market decreased 22.2% to 112
• Percent of Original List Price Received increased 3.4% to 93.7%
• Months Supply of Inventory decreased 38.8% to 3.0