Weekly Market Activity Report for Week Ending October 21 Tags: Market DataWeekly Market Activity Reports

Annual U.S. single-family rent growth fell to 2.9% in August, marking the 16th consecutive month of declines, according to Corelogic’s most recent Single-Family Rent Index (SFRI). Although rent growth continues to moderate, single-family rents have increased by 30% nationwide since February 2020 and renters are feeling the effects, with the average American renter household spending about 40% of its income on housing costs as of last measure.

In the Twin Cities region, for the week ending October 21:

• New Listings increased 3.2% to 1,160
• Pending Sales decreased 10.8% to 762
• Inventory decreased 7.5% to 8,839

For the month of September:

• Median Sales Price increased 2.4% to $371,000
• Days on Market increased 6.3% to 34
• Percent of Original List Price Received increased 0.4% to 99.3%
• Months Supply of Homes For Sale increased 20.0% to 2.4