U.S. new-home sales rose 18.7% year-over-year in October, reaching a seasonally adjusted annual rate of 737,000 units, according to long-awaited data from the U.S. Census Bureau. On a monthly basis, sales were essentially flat, dipping just 0.1% from September’s 738,000 units. The median new-home sales price fell 3.3% month-over-month to $392,300, down 8% from October 2024.
In the Twin Cities region, for the week ending January 24:
- New Listings decreased 11.2% to 806
- Pending Sales decreased 5.6% to 571
- Inventory decreased 0.3% to 7,51
For the Month of December:
- Median Sales Price increased 2.7% to $380,000
- Days on Market increased 3.6% to 58
- Percent of Original List Price Received decreased 0.2% to 96.8%
- Months Supply of Homes For Sale decreased 5.0% to 1.9