The heat is on for Twin Cities home buyers. Sales are outpacing listings in some parts of the metro, prices are on the rise and there's the looming threat of higher mortgage rates. All of that means tough times for buyers in a seller's market, according to data from the Minneapolis Area Association of Realtors. We're working on a full report, in the meantime here's what you need to know:
- Pending sales: 6,228, up 19.5 percent
- Closings: 5,719, up 14.4 percent
- Median sales price: $224,000 up 6.7 percent.
- New listings; 8,590, up 0.3 percent
- Total inventory at the end of the month: 16,066, down 6.8 percent
- Days on market: 76
