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Weekly Market Activity Report for Week Ending August 13 Tags: Market DataWeekly Market Activity Reports

After declining for three consecutive quarters, the share of homebuyers actively searching for a home grew to 49% nationally in the second quarter of 2022, up from 46% the previous quarter, according to the National Association of Home Builders (NAHB) recent Housing Trends Report. NAHB economists credit the rise in buyer activity to a less competitive housing market, which has motivated more prospective buyers to advance from the planning stage of the homebuying process to actively trying to purchase a home.

In the Twin Cities region, for the week ending August 13:

• New Listings decreased 16.0% to 1,480
• Pending Sales decreased 22.6% to 1,173
• Inventory increased 5.4% to 8,948

For the month of July:

• Median Sales Price increased 7.1% to $375,000
• Days on Market increased 15.8% to 22
• Percent of Original List Price Received decreased 2.0% to 101.5%
• Months Supply of Homes For Sale increased 20.0% to 1.8