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.

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.

U.S. pending home sales recently hit a 21-month high, rising 2.2% month-over-month, marking the fourth consecutive month in which contract signings increased, according to the National Association of REALTORS®. On a monthly basis, pending sales increased in the Midwest, South, and West but decreased in the Northeast. Annual gains were reported in all four regions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 4:

• New Listings decreased 18.9% to 710
• Pending Sales decreased 10.1% to 426
• Inventory increased 3.3% to 7,191

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.

The typical homeowner has accumulated $147,000 in housing wealth over the last five years, according to a study by the National Association of REALTORS®. 87% of metropolitan markets (196 out of 226 tracked areas) reported home price gains in the third quarter of 2024, while 7% of markets experienced double-digit price appreciation annually.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 28:

• New Listings decreased 14.1% to 328
• Pending Sales increased 2.6% to 427
• Inventory decreased 0.2% to 7,435

FOR THE MONTH OF NOVEMBER:

• Median Sales Price increased 3.4% to $375,000
• Days on Market increased 25.0% to 50
• Percent of Original List Price Received increased 0.2% to 97.6%
• Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2023

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

New-home purchases accounted for 15% of home sales over the past year, the
highest share since 2007, while existing-home purchases accounted for 85%,
according to a recent report from the National Association of REALTORS®. Among
new-home buyers, 42% were most often looking to avoid renovations and
problems with mechanical systems, while 31% of existing-home buyers felt
previously owned homes represented a better overall value.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 21:

• New Listings decreased 1.0% to 477
• Pending Sales increased 3.1% to 605
• Inventory increased at 7,832

FOR THE MONTH OF NOVEMBER:

• Median Sales Price increased 3.4% to $375,000
• Days on Market increased 25.0% to 50
• Percent of Original List Price Received increased 0.2% to 97.6%
• Months Supply of Homes For Sale remained flat at 2.3

All comparisons are to 2023

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