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Monday Market Report for May 9th

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This week ATTOM Data Solutions released its Q1 2020 U.S. Home Equity and Underwater Report, showing that just over one in four homeowners have at least 50% equity in their homes. The Mortgage Bankers Association reported that mortgage applications were up again last week, which is further sign of strengthening buyer interest as much of the country sees a gradual softening of stay-at-home orders due to COVID-19.

In the Twin Cities region, for the week ending May 9:

New Listings decreased 17.3% to 1,727
Pending Sales decreased 22.6% to 1,232
Inventory decreased 13.5% to 9,550

FOR THE MONTH OF APRIL:

Median Sales Price increased 8.9% to $305,000
Days on Market decreased 7.6% to 61
Percent of Original List Price Received increased 0.5% to 99.9%
Months Supply of Homes For Sale decreased 13.6% to 1.9

Publish Date: May 18, 2020 • All comparisons are to 2019