The housing supply in the Twin Cities rose from 1.2 to 1.3 months. It is the same as it was in September of 2021. The last time we had a two-months supply of homes for sale was in 2020. The supply of houses is slowly rising but the supply is still very low which is why prices are rising rather than falling.
It has been many years since we have seen a buyer’s market. During a buyer’s market, there is at least a six-month supply of houses for sale.
Supply is measured by how long it would take to sell all of the houses on the market if no more houses came on the market with buying activity remaining the same.
Homeowners who are concerned about being able to sell their houses should find something else to worry about.
Back during the housing market crash and the great recession, there was a 10 to 12-month supply at times.
