May 2025
U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-over-year toa seasonally adjusted annual rate of 4.00 million units, according to the National Association of REALTORS® (NAR). Sales increased in the Midwest, decreased in the West and Northeast, and were unchanged in the South. Year-over-year, sales were down in every region except the Northeast.
New Listings in the Twin Cities region increased 0.6 percent to 7,096. Pending Saleswere up 0.5 percent to 4,719. Inventory levels rose 4.5 percent to 9,588 units.
Prices continued to gain traction. The Median Sales Price increased 2.6 percent to $395,000. Days on Market was up 7.3 percent to 44 days. Buyers felt empowered as Months Supply of Homes for Sale was up 4.2 percent to 2.5 months.
There were 1.45 million units actively for sale heading into May, a 9.0% increase from the previous month and a 20.8% improvement from the same time last year, for a 4.4-month supply at the current sales pace, according to NAR. The median existing-home price edged up 1.8% year-over-year to $414,000 as of last measure, the 22nd consecutive month of annual price increases and a new record high for the month.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
