The Bureau of Labor Statistics reported in August that total nonfarm payroll employment increased by more than 200,000 in July, and the national unemployment level is holding relatively steady at 6.2 percent. Combined with a reported increase in consumer confidence by Reuters, the U.S. economy is looking pretty spiffy. So long as quality paying jobs continue to be added to the mix and housing policy remains welcoming to those who want to buy and sell, there is reason to remain optimistic about residential real estate.

In the Twin Cities region, for the week ending August 30:

• New Listings increased 0.6% to 1,365
• Pending Sales decreased 10.8% to 1,087
• Inventory increased 9.9% to 18,627

For the month of August:

• Median Sales Price increased 5.3% to $219,001
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.8% to 96.2%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

As summer begins to wane, the total number of home sales will gradually drop like the leaves of fall. And although autumn is nearing, that doesn’t necessarily mean that the changing of the season will bring market chills. Because even as sales drop, sales prices are still mostly on the rise and inventory is stabilizing all across the country. And let’s not forget that lower sales figures are also due to fewer distressed properties on the market.

In the Twin Cities region, for the week ending August 23:

• New Listings increased 3.5% to 1,539
• Pending Sales increased 4.5% to 1,175
• Inventory increased 10.1% to 18,755

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Recent data would suggest that inflation is mostly under control, which hopefully indicates that the Federal Reserve will have enough room to comfortably maintain its accommodative monetary policy stance. So rather than losing momentum, the housing market has found even sturdier ground upon which it can sustain itself. With economic strength and increased consumer confidence, expectations of more inventory and more sales is not out of line.

In the Twin Cities region, for the week ending August 16:

• New Listings increased 3.3% to 1,697
• Pending Sales decreased 6.6% to 1,081
• Inventory increased 9.7% to 18,648

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

On a national level, home prices have dipped slightly. Instead of freaking out about this on 24-hour cable news channels, analysts are happy to see more sustainable trends settling into the U.S. housing market. With slower, healthier price growth, homeowners will have the opportunity to steadily build equity while buyers won’t be priced out of the market. Price normalization is not a negative trend, but rather a sign of stabilization and market athleticism.

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

• New Listings increased 8.7% to 1,794
• Pending Sales decreased 1.3% to 1,157
• Inventory increased 9.6% to 18,494

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.