Seller profits are beginning to ease, as home sales dip and sales prices soften nationwide. According to ATTOM, profit margins on median-priced single-family home and condo sales fell 3% from the second to the third quarter of 2022 in nearly 70% of the 186 metropolitan areas tracked, representing the largest quarterly decline since 2011. Despite the drop, investment returns remain historically high, with profits up compared to the same period last year.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING OCTOBER 29:
- New Listings decreased 21.7% to 1,055
- Pending Sales decreased 41.2% to 794
- Inventory increased 5.4% to 9,015
FOR THE MONTH OF SEPTEMBER:
- Median Sales Price increased 6.3% to $362,050
- Days on Market increased 39.1% to 32
- Percent of Original List Price Received decreased 2.3% to 98.9%
- Months Supply of Homes For Sale increased 18.8% to 1.9
All comparisons are to 2021
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.