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Weekly Market Activity Report for Week Ending August 7 Tags: Market DataWeekly Market Activity Reports

America’s housing shortage may be starting to ease up, with new listings up 6.5% year-over-year in July, making it the fourth consecutive month of annual increases, according to realtor.com’s Monthly Housing Report. More than half of the nation’s 50 largest metropolitan areas reported double-digit increases in new listings, which may suggest the market is beginning to normalize after the record-breaking activity seen during the pandemic.

In the Twin Cities region, for the week ending August 7:

• New Listings increased 1.7% to 1,939
• Pending Sales decreased 18.6% to 1,414
• Inventory decreased 23.1% to 7,605

For the month of July:

• Median Sales Price increased 11.9% to $350,000
• Days on Market decreased 53.7% to 19
• Percent of Original List Price Received increased 3.5% to 103.6%
• Months Supply of Homes For Sale decreased 30.0% to 1.4