U.S. pending home sales increased 6.1% from the previous month, the largest monthly increase since December 2023, according to the National Association of Realtors®. Economists polled by Reuters had forecast an increase of 1% for the month. Monthly pending sales activity was up in the West, Midwest, and South, while the Northeast saw a decline.
In the Twin Cities region, for the week ending May 3:
- New Listings decreased 0.2% to 1,635
- Pending Sales increased 2.6% to 1,129
- Inventory increased 5.7% to 8,663
For the Month of March:
- Median Sales Price increased 3.5% to $380,000
- Days on Market increased 7.3% to 59
- Percent of Original List Price Received increased 0.2% to 99.0%
- Months Supply of Homes For Sale increased 5.0% to 2.1