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Brad Anderson Realtor's Blog

By Brad Anderson | Agent in Maple Grove, MN

Weekly Real Estate Market report

Weekly Market Activity Report

For Week Ending January 12, 2013

Publish Date: January 22, 2013 • All comparisons are to 2012

The first full week of 2013 market data looks a lot like most of 2012 did. But let's go beyond the obvious. Consider this: Americans formed substantially more new households in 2012 than we built, which is partly responsible for the ongoing declines in active listings. Our population continues to expand from both natural reproduction and in-migration. But builders and lenders lacked the confidence and risk appetite to build in larger volumes. Unlike our sluggish jobs recovery, this imbalance actually stands to further fuel our fledgling housing recovery. If only all those new households could secure adequate employment, we'd be off to the races

.In the Twin Cities region, for the week ending January 12:

• New Listings decreased 8.0% to 1,120

• Pending Sales increased 4.3% to 722

• Inventory decreased 31.7% to 12,123For the month of December:

• Median Sales Price increased 15.9% to $168,000

• Days on Market decreased 23.4% to 108

• Percent of Original List Price Received increased 3.5% to 93.8%

• Months Supply of Inventory decreased 42.0% to 2.9

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