Here’s the lasts Housing Supply Report from the Minneapolis Area Association of Realtors:
Sales growth is strongest now in the townhouse segment. Over the last 12 months,
the number of sales has increased by 24.4 percent, compared to increases of 14.8
percent and 11.8 percent for single-family and condo homes, respectively.
All of that townhouse sales growth can be found in the price segments below $150,000.
Below $120,000, there is only 3.1 months of supply, down from the mark of 6.1 a year ago. Above $1 million, there is 32.8 months of supply, up from the mark of 24.8 from a year ago.
Sales in the higher price ranges continue to slow. The market drivers of activity in the lower price ranges (low rates, tax credits) are having little to no effect in the upper bracket segments. (Learn more)