U.S. residential housing starts jumped 10.7% from the previous month to a seasonally adjusted annual rate of 1.521 million units, led by a surge in single-family starts, which increased 11.6% to 1.129 million units from the previous month, according to the U.S. Census Bureau. Meanwhile, overall housing completions rose 19.7% to a seasonally adjusted annual rate of 1.729 million units, the highest level since January 2007.
In the Twin Cities region, for the week ending March 30:
• New Listings decreased 10.4% to 1,014
• Pending Sales decreased 1.1% to 933
• Inventory increased 12.0% to 7,029
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