For Week Ending March 16, 2024
The U.S. homeownership rate declined in the fourth quarter of 2023, sliding 0.3% from the third quarter to 65.7% at year’s end, according to the Census Bureau’s Housing Vacancy Survey, as higher interest rates and a limited supply of inventory put homeownership out of reach for some buyers. The latest reading fell short of the 25-year average rate of 66.4%, with the less than 35 age group experiencing the largest quarterly decline in homeownership rate, at 0.6%.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 16:
- New Listings increased 25.7% to 1,310
- Pending Sales increased 11.8% to 935
- Inventory increased 13.3% to 6,989
FOR THE MONTH OF FEBRUARY:
- Median Sales Price increased 4.6% to $358,000
- Days on Market decreased 3.3% to 59
- Percent of Original List Price Received increased 0.3% to 97.5%
- 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.