The median national home price recently hit a new all-time high of $405,000 in March, a 13.5% increase annually, according to Realtor.com’s latest Monthly Housing Trends Report. As home prices continue to rise, the share of homes experiencing price reductions has also grown, with 25 of the 50 largest metro areas reporting an increase in price reductions last month, up from 18 in February, which may be an early sign the housing market is moderating somewhat.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 2:
- New Listings increased 0.2% to 1,500
- Pending Sales decreased 11.4% to 1,238
- Inventory decreased 11.8% to 4,986
FOR THE MONTH OF FEBRUARY:
- Median Sales Price increased 8.3% to $340,000
- Days on Market decreased 4.3% to 44
- Percent of Original List Price Received increased 0.7% to 100.8%
- Months Supply of Homes For Sale decreased 10.0% to 0.9
All comparisons are to 2021
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.