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Minneapolis Months Supply of Homes

Carpathian Capital Management is heavily invested in real estate in the Minneapolis metro area. Minneapolis has seen record setting home price appreciation in the past few years. Since January of 2019, the median sales price in the Minneapolis metro has risen over 33%. Minneapolis has seen one of the largest housing shortages that the market has ever encountered. The market for existing homes currently has a months supply of only 1.5 months.  When including all homes in the market, the months supply is 1.8 months. Meaning that if sellers stopped adding homes for sale into the market, the market would sell out of the current stock in around 39 days. Equilibrium for months supply is around six months, as that is around how long it takes to build a home. This wide gap is one of the factors driving rapid home price appreciation. Builders need to build homes at a rate faster than the rate homes are currently selling at in order to help slow down the market.

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Gian Lorenzo Ferretti

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