For Week Ending March 1, 2025

U.S. pending home sales slipped 4.6% month-over-month and 5.2% year-over-year, according to the National Association of Realtors®. Economists polled by Reuters had forecast contract signings falling 1.3% for the month. Pending sales decreased on a monthly basis in the Midwest, South, and West but increased slightly in the Northeast, with sales down in all four regions year-over-year.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 1:

• New Listings increased 4.1% to 1,277
• Pending Sales decreased 0.7% to 845
• Inventory decreased 0.9% to 7,094

FOR THE MONTH OF JANUARY:

• Median Sales Price increased 5.0% to $370,000
• Days on Market increased 17.9% to 66
• Percent of Original List Price Received increased 0.3% to 96.9%
• Months Supply of Homes For Sale remained flat at 1.9

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending February 1, 2025

U.S. sales of existing homes totaled 4.06 million in 2024, down from 4.09 million the year before, according to the National Association of REALTORS®. Meanwhile, sales of new single-family homes grew for the second year in a row, with an estimated 683,000 units sold last year, a 2.5% increase from 2023, the U.S. Census Bureau reports.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 1:

• New Listings increased 4.5% to 1,029
• Pending Sales decreased 6.7% to 687
• Inventory decreased 1.9% to 6,844

FOR THE MONTH OF DECEMBER:

• Median Sales Price increased 4.6% to $370,000
• Days on Market increased 9.8% to 56
• Percent of Original List Price Received increased 0.3% to 97.0%
• Months Supply of Homes For Sale remained flat at 1.9

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending January 25, 2025

U.S. housing starts jumped 15.8% month-over-month to a seasonally adjusted annual rate of 1,499,000 units, but were down 4.4% from one year ago, according to the U.S. Census Bureau. Single-family starts climbed 3.3% month-over-month to a seasonally adjusted annual rate of 1,050,000 units, while multi-family starts surged 58.9% to a seasonally adjusted annual rate of 418,000 units.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 25:

• New Listings increased 2.2% to 886
• Pending Sales decreased 15.2% to 610
• Inventory decreased 2.3% to 6,888

FOR THE MONTH OF DECEMBER:

• Median Sales Price increased 4.6% to $370,000
• Days on Market increased 9.8% to 56
• Percent of Original List Price Received increased 0.3% to 97.0%
• Months Supply of Homes For Sale remained flat at 1.9

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending January 18, 2025

U.S. home prices increased 4.3% year-over-year in the third quarter of 2024, according to the Federal Housing Finance Agency House Price Index Quarterly Report. Home prices were up in 49 states on an annual basis, with prices rising most in Hawaii (10.4%), Delaware (8.5%), and Rhode Island (8.4%). The U.S. housing market has seen positive annual appreciation each quarter since 2012.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 18:

• New Listings increased 10.0% to 928
• Pending Sales decreased 4.4% to 587
• Inventory decreased 2.5% to 6,880

FOR THE MONTH OF DECEMBER:

• Median Sales Price increased 4.6% to $370,000
• Days on Market increased 9.8% to 56
• Percent of Original List Price Received increased 0.3% to 97.0%
• Months Supply of Homes For Sale decreased 5.3% to 1.8

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending January 11, 2025

Higher mortgage rates, coupled with rising sales prices, continue to impact buyer preferences for smaller homes. According to the U.S. Census Bureau, the typical single-family home under construction had a median floor area of 2,158 square feet in the third quarter of 2024, down from 2,214 square feet in the third quarter of 2023. The average size of new single-family homes started in the third quarter dropped to 2,384 square feet, down from an average of 2,434 square feet one year earlier.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 11:

• New Listings increased 9.7% to 1,006
• Pending Sales decreased 7.7% to 529
• Inventory decreased 2.0% to 6,857

FOR THE MONTH OF DECEMBER:

• Median Sales Price increased 4.6% to $370,000
• Days on Market increased 9.8% to 56
• Percent of Original List Price Received increased 0.3% to 97.0%
• Months Supply of Homes For Sale decreased 5.3% to 1.8

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.