U.S. housing starts fell 5.5% month-over-month to a seasonally adjusted annual rate of 1,277,000, according to the U.S. Census Bureau. Privately-owned housing completions also declined, dropping 8.4% from the previous month to a seasonally adjusted annual rate of 1,514,000, as higher interest rates and ongoing labor and supply challenges continue to impact new home construction.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JULY 6:

• New Listings decreased 23.2% to 894
• Pending Sales decreased 1.4% to 823
• Inventory increased 12.4% to 8,954

FOR THE MONTH OF JUNE:

• Median Sales Price increased 1.8% to $390,000
• Days on Market increased 9.7% to 34
• Percent of Original List Price Received decreased 1.2% to 100.1%
• Months Supply of Homes For Sale increased 14.3% to 2.4

All comparisons are to 2023

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