U.S. pending home sales rose more than expected, climbing 1.8% month-overmonth and 1.1% year-over-year, according to the National Association of Realtors®. All four regions reported monthly increases, with the West recording the largest gain. Year-over-year, pending sales advanced in the Midwest and South but decreased in the Northeast and West.
In the Twin Cities region, for the week ending July 5:
- New Listings increased 12.6% to 1,042
- Pending Sales increased 5.6% to 888
- Inventory increased 4.8% to 9,864
For the Month of May:
- Median Sales Price increased 2.6% to $395,000
- Days on Market increased 7.3% to 44
- Percent of Original List Price Received remained flat at 100.0%
- Months Supply of Homes For Sale increased 8.3% to 2.6