For Week Ending February 24, 2024
U.S. housing starts fell 14.8% month-over-month in January to a seasonally adjusted annual rate of 1,331,000 units, according to data from the U.S. Census Bureau. Single-family starts dropped 4.7% from the previous month, while multi-family starts declined 35.8%. Although construction was down for the month, builder sentiment continues to improve, rising to the highest level since August 2023, according to the National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI).
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 24:
- New Listings increased 48.6% to 1,138
- Pending Sales increased 7.0% to 799
- Inventory increased 5.7% to 6,537
FOR THE MONTH OF JANUARY:
- Median Sales Price increased 3.1% to $352,500
- Days on Market decreased 8.2% to 56
- Percent of Original List Price Received increased 0.7% to 96.7%
- Months Supply of Homes For Sale increased 28.6% to 1.8
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.