The median age of U.S. homebuyers is now 56 years old, up from 49 in 2023, according to the National Association of Realtors®’ 2024 Profile of Home Buyers and Sellers. The median age of first-time buyers rose from 35 to 38 years old, while the typical repeat buyer age climbed from 58 to 61 years old. The median ages of all three groups reached record highs in 2024.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 22:

• New Listings increased 9.6% to 1,342
• Pending Sales increased 2.5% to 974
• Inventory increased 2.1% to 7,667

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

The U.S. homeownership rate remain largely unchanged in the fourth quarter of 2024, ticking up 0.1% from the third quarter to 65.7%, according to a recent report from Realtor®.com. Homeownership rates remained between 65.6% and 65.7% last year, down from Q2 2020’s high of 67.9%, but higher than pre-pandemic years. The homeowner vacancy rate increased 0.1% from the previous quarter to 1.1%, while the rental vacancy rate remained the same, at 6.9%.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 15:

• New Listings increased 4.1% to 1,408
• Pending Sales decreased 1.1% to 927
• Inventory increased 1.3% to 7,487

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

47.7% of mortgaged residential properties in the U.S. were considered equity rich—having a loan-to-value ratio of 50% or lower—in the fourth quarter of 2024, according to ATTOM’s Q4 U.S. Home Equity and Underwater Report. This is down from 48.3% in the third quarter, but up from 46.1% one year earlier. The highest levels of equity-rich mortgaged properties were in Vermont (86.7%), New Hampshire (61.4%), and Maine (61.1%).

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 8:

• New Listings increased 8.2% to 1,451
• Pending Sales decreased 5.1% to 866
• Inventory remained flat at 7,222

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

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. 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.

The supply of homes for sale continues to improve nationwide, rising 24.6% year-over-year in January, according to Realtor®.com’s latest Monthly Housing Market Trends Report, marking the 15th consecutive month of inventory growth. Newly listed homes jumped 37.5% month-over-month and 10.8% year-over-year, bringing new listing activity to its highest January level since 2021, with the typical home spending 73 days on the market.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 15:

• New Listings decreased 6.9% to 1,053
• Pending Sales decreased 9.5% to 728
• Inventory decreased 0.5% to 6,934

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.

The national median asking rent decreased 1.1% year-over-year to $1,695 per month, the 17th consecutive month of rent declines and the first time since April 2022 that national median asking rents fell below $1,700, according to Realtor.com’s December 2024 Rental Report. Among the 50 largest metropolitan areas, the median rent for a studio was $1,419, followed by 1-bedroom and 2-bedroom units at $1,579 and $1,880, respectively.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 8:

• New Listings decreased 8.2% to 1,008
• Pending Sales decreased 8.4% to 695
• Inventory decreased 0.4% to 6,852

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 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.

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.

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.

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.