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Weekly Market Activity Report for Week Ending February 24 Tags: Market DataWeekly Market Activity Reports

U.S. housing starts fell 14.8% month-over-month in January to a seasonally adjusted annual rate of 1,331,000 units, according to data from the U.S. Census Bureau. Single-family starts dropped 4.7% from the previous month, while multifamily starts declined 35.8%. Although construction was down for the month, builder sentiment continues to improve, rising to the highest level since August 2023, according to the National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI).

In the Twin Cities region, for the week ending February 24:

• New Listings increased 48.6% to 1,138
• Pending Sales increased 7.0% to 799
• Inventory increased 5.7% to 6,537

For the month of January:

• Median Sales Price increased 3.1% to $352,500
• Days on Market decreased 8.2% to 56
• Percent of Original List Price Received increased 0.7% to 96.7%
• Months Supply of Homes For Sale increased 28.6% to 1.8