U.S. sales of new residential homes slipped 1.7% in December to a seasonally adjusted annual rate of 745,000, according to the U.S. Census Bureau. Despite the monthly decline, new-home sales were 3.8% higher compared with the same period one year earlier. There were an estimated 472,000 new homes for sale, representing a 7.6-month supply at the current sales pace.
In the Twin Cities region, for the week ending March 7:
- New Listings increased 0.2% at 1,486
- Pending Sales increased 1.7% to 896
- Inventory increased 3.1% to 7,959
For the month of February:
- Median Sales Price remained flat at $380,000
- Days on Market remained flat at 69
- Percent of Original List Price Received decreased 0.3% to 97.4%
- Months Supply of Homes For Sale remained flat at 2.1