U.S. pending home sales increased 6.1% from the previous month, the largest monthly increase since December 2023, according to the National Association of Realtors®. Economists polled by Reuters had forecast an increase of 1% for the month. Monthly pending sales activity was up in the West, Midwest, and South, while the Northeast saw a decline.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MAY 3:

• New Listings decreased 0.2% to 1,635
• Pending Sales increased 2.6% to 1,129
• Inventory increased 5.7% to 8,663

FOR THE MONTH OF MARCH:

• Median Sales Price increased 3.5% to $380,000
• Days on Market increased 7.3% to 59
• Percent of Original List Price Received increased 0.2% to 99.0%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2024

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

U.S. housing starts fell 11.4% month-over-month to a seasonally adjusted annual rate of 1,324,000 units, according to the U.S. Census Bureau, as increased material costs weigh on homebuilders. Single-family starts decreased 14.2% from the previous month to a seasonally adjusted annual rate of 940,000 units, while multifamily starts remained unchanged at 371,000 units. Housing inventory continues to grow nationwide, climbing 28.5% year-over-year, according to Realtor®.com’s March 2025 Monthly Housing Market Trends Report. New listing activity increased 10.2% from one year ago, marking the most active March for new listings since 2022. On average, homes spent 53 days on the market, three days more than the same time last year, with 17.5% of homes receiving price reductions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 26:

• New Listings increased 9.4% to 1,597
• Pending Sales decreased 5.1% to 973
• Inventory increased 3.5% to 8,302

FOR THE MONTH OF MARCH:

• Median Sales Price increased 3.5% to $380,000
• Days on Market increased 7.3% to 59
• Percent of Original List Price Received increased 0.2% to 99.0%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2024

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

Housing inventory continues to grow nationwide, climbing 28.5% year-over-year, according to Realtor®.com’s March 2025 Monthly Housing Market Trends Report. New listing activity increased 10.2% from one year ago, marking the most active March for new listings since 2022. On average, homes spent 53 days on the market, three days more than the same time last year, with 17.5% of homes receiving price reductions.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 19:

• New Listings decreased 0.4% to 1,428
• Pending Sales increased 3.2% to 1,035
• Inventory increased 3.3% to 8,170

FOR THE MONTH OF MARCH:

• Median Sales Price increased 3.5% to $380,000
• Days on Market increased 7.3% to 59
• Percent of Original List Price Received increased 0.2% to 99.0%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2024

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

The national median mortgage payment remained unchanged at $2,205 in February, and was up 1.0%, or $21, compared to the same time last year, according to the Mortgage Bankers Association. For conventional loan applicants, the national median mortgage payment held steady at $2,226, while the national median mortgage payment for FHA loan applicants dipped to $1,907, down from $1,934 the previous month.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 12:

• New Listings decreased 0.1% to 1,518
• Pending Sales increased 5.4% to 1,057
• Inventory increased 3.1% to 7,956

FOR THE MONTH OF MARCH:

• Median Sales Price increased 3.5% to $380,000
• Days on Market increased 7.3% to 59
• Percent of Original List Price Received increased 0.2% to 99.0%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2024

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