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.

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.