As the U.S. economy recovers from the pandemic, the number of homeowners in forbearance continues to decline, with the total number of loans in forbearance falling to 1.41% as of last measure, making it the first time in 18 months the rate has dropped below 1.5%, according to the Mortgage Bankers Association.
In the Twin Cities region, for the week ending January 15:
• New Listings decreased 18.5% to 790
• Pending Sales decreased 15.0% to 722
• Inventory decreased 23.2% to 4,463
For the month of December:
• Median Sales Price increased 7.8% to $331,000
• Days on Market decreased 15.4% to 33
• Percent of Original List Price Received decreased 0.2% to 99.5%
• Months Supply of Homes For Sale decreased 27.3% to 0.8