For Week Ending May 18, 2024

According to the 2021 American Housing Survey, approximately 10.2 million households bought and moved to a new home in the two years preceding the date the survey was conducted. Of those, 40% of buyers purchased their first home, and 7% of buyers purchased a newly built home. First-time buyers had a median age of 33 years and a median income of $90,000, while new-home buyers had a median age of 45 years and a median income of $112,100. The median age of all homebuyers was 41 years, with a median income of $97,700.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MAY 18:

• New Listings decreased 2.7% to 1,646
• Pending Sales decreased 4.9% to 1,028
• Inventory increased 16.9% to 8,234

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.

For Week Ending October 2, 2021

Soaring sales prices have brought about significant gains in home equity during the pandemic, with the average annual equity increase for borrowers reaching $51,550 in the second quarter of the year, according to CoreLogic, which represents the largest average equity gain in more than 11 years. The rapid accumulation of equity may help homeowners who are behind on payments avoid foreclosure, allowing borrowers to access their equity and sell their home instead.

In the Twin Cities region, for the week ending October 2:

• New Listings decreased 13.6% to 1,547
• Pending Sales decreased 14.4% to 1,349
• Inventory decreased 14.8% to 8,440

For the month of August:

• Median Sales Price increased 11.1% to $350,000
• Days on Market decreased 43.6% to 22
• Percent of Original List Price Received increased 2.1% to 102.4%
• Months Supply of Homes For Sale decreased 26.3% to 1.4

All comparisons are to 2020

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