U.S. pending home sales decreased 6.3% month-over-month, according to the National Association of Realtors®, with monthly declines reported across all four regions. Year-over-year, pending sales fell in the Northeast, South, and West, but rose in the Midwest, where the typical home price is $313,000—about 25% below the national median.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JUNE 7:

• New Listings increased 0.1% to 1,705
• Pending Sales decreased 0.6% to 1,072
• Inventory increased 7.3% to 9,698

FOR THE MONTH OF MAY:

• Median Sales Price increased 2.6% to $395,000
• Days on Market increased 7.3% to 44
• Percent of Original List Price Received remained flat at 100.0%
• Months Supply of Homes For Sale increased 8.3% to 2.6

All comparisons are to 2024

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