New Listings and Pending Sales
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Monthly Archives: March 2025
Inventory
Weekly Market Report
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.
Mortgage Rates Continue to Fall
March 6, 2025
As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September. The decline in rates increases prospective homebuyers’ purchasing power and should provide a strong incentive to make a move. Additionally, this decline in rates is already providing some existing homeowners the opportunity to refinance. In fact, the refinance share of market mortgage applications released this week reached nearly 44%, the highest since mid-December.
Information provided by Freddie Mac.
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending February 22, 2025
U.S. housing starts decreased 9.8% month-over-month to a seasonally adjusted annual rate of 1,366,000 units, according to the U.S. Census Bureau, following a larger-than-expected increase the previous month. Single-family starts fell 8.4% to a seasonally adjusted annual rate of 993,000 units, the first drop since October, while multi family starts slipped 11% to 355,000 units on a seasonally adjusted annual basis.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 22:
- New Listings decreased 5.5% to 1,114
- Pending Sales decreased 5.7% to 771
- Inventory increased 0.3% to 7,049
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.