Weekly Twin Cities Real Estate Market Activity Report

Here's the latest from MAAR:

Twin Cities consumers didn't do much laboring to purchase a home over Labor Day weekend, as sales activity for the week ending September 8 was down significantly. There were only 500 new purchase agreements signed in the metropolitan area during the week, the lowest number since the beginning of 2007. New listings increased slightly from the previous week, likely buoyed by post-holiday relistings.

This edition of the MAAR Weekly Market Activity Report (WMAR) features a new Months Supply of Inventory figure of 9.9 months, which means it will take 9.9 months for the inventory for sale at the beginning of September to sell through completely. This measurement takes the place of our Housing Supply Outlook, which has been expanded, enhanced and given its own spotlight separate from the WMAR. We are now able to provide detailed measurements of supply and demand by property type, construction status and price range, as well as where these important variables intersect.

Click here to view the September 2007 edition of our new and improved Housing Supply Outlook.

Click the chart or click here for this week's full report.