Market Activity Report

From the Minneapolis Area Association of Realtors:

Activity in the Twin Cities housing market saw a Valley Fair-esque drop
for the week ending December 29, compared to the week before.
Blame Santa Claus. New listings, pending sales and total inventory all
fell at least several hundred units as Twin Citizens focused on
celebrating the holiday season during the 12th snowiest December on
record. Due to the unique weather and the vagaries of the Christmas
holiday, little meaningful context can be gleaned from the decreased
numbers.
However, we can utilize some updated figures for several key market
measurements in this week's edition of the MAAR Weekly Market
Activity Report. The Days on Market Before Sale increased to 158.
Although this is higher than December 2006 by 4.6 percent, the figure
will likely start to decrease as 2008 begins and the holiday season
ends. The Percent of Original List Price Received at Sale fell slightly to
91.2 as buyers exerted their seasonal power during the slow
December sales month. And our Supply-Demand Ratio for January fell
to 10.46, which means there will be roughly 10.46 buyers for each
house for sale in January.