MAAR: Weekly Market Update

Here's the latest scoop from the Mpls Area Association of Realtors. 


As we press through May, the residential real estate market is really hitting its

paces. Sales activity has been plentiful and REALTORS® are busier than ever. The

Bureau of Labor Statistics recently released April numbers, and they are still quite

positive. The nation added 223,000 jobs and the national unemployment rate

dropped to 5.4%. The need for more inventory is an ongoing issue, but not one

that thwarts optimism in the marketplace.

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

• New Listings increased 7.1% to 2,117

• Pending Sales increased 24.0% to 1,526

• Inventory decreased 1.8% to 15,518