The economy added 162,000 jobs in August, more than three times what forecasters expected, according to the Bureau of Labor Statistics. The strong report, combined with upward revisions to prior months, suggests the job market remains resilient despite higher borrowing costs. Residential construction added 7,300 positions as builders continue to address housing supply. For buyers weighing their options, the robust employment picture signals stability — but it also raises the odds that the Federal Reserve may raise rates at its September meeting, making now a potentially opportune time to lock in financing.
In the Twin Cities region, for the week ending September 5:
- New Listings decreased 16.7% to 1,335
- Pending Sales increased 7.8% to 916
- Inventory increased 10.1% to 11,879
For the month of July:
- Median Sales Price increased 3.4% to $408,475
- Days on Market increased 2.5% to 41
- Percent of Original List Price Received decreased 0.2% to 99.1%
- Months Supply of Homes For Sale increased 10.7% to 3.1
All comparisons are to 2025
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.