For Week Ending June 1, 2024
The average American household spent 24.2% of their income on mortgage payments in the first three months of the year, according to the National Association of REALTORS®, down from 26.1% the previous quarter. Assuming a 20% down payment, the typical monthly mortgage payment on an existing single-family home was $2,037 in the first quarter, an increase of 9.3%, or $173 per month, compared to the same period a year ago.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JUNE 1:
- New Listings decreased 3.8% to 1,463
- Pending Sales decreased 5.0% to 960
- Inventory increased 14.0% to 8,450
FOR THE MONTH OF APRIL:
- Median Sales Price increased 4.1% to $385,000
- Days on Market remained flat at 46
- Percent of Original List Price Received decreased 0.2% to 99.9%
- Months Supply of Homes For Sale increased 23.5% to 2.1
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.