April 2025
U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year-overyear to a seasonally adjusted annual rate of 4.02 million units, according to theNational Association of REALTORS® (NAR), as affordability challenges and economicuncertainty weigh on market activity. Sales were down month-over-month in all fourregions, with the West experiencing the largest decline, at 9.4%.
New Listings in the Twin Cities region increased 5.5 percent to 6,754. Pending Saleswere up 3.6 percent to 4,498. Inventory levels rose 4.8 percent to 8,617 units.
Prices continued to gain traction. The Median Sales Price increased 3.5 percent to$398,900. Days on Market was up 8.7 percent to 50 days. Buyers felt empowered asMonths Supply of Homes for Sale was up 4.5 percent to 2.3 months.
Total housing inventory increased 8.1% month-over-month for a total of 1.33 millionunits heading into April, equivalent to a 4.0-month supply at the current sales pace,according to NAR. Although inventory is up nearly 20% from the same time last year,the additional supply has had little effect on home prices across much of the country,with the national median existing-home price climbing 2.7% year-over-year to$403,700 as of last measure.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
