June 2025
U.S. existing-home sales edged up 0.8% month-over-month to a seasonally adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7% year-over-year, according to the National Association of REALTORS® (NAR). On a monthly basis, sales increased in the Midwest, Northeast,and South but decreased in the West.
New Listings in the Twin Cities region increased 0.8 percent to 6,500. Pending Sales were up 3.5 percent to 4,650. Inventory levels rose 2.0 percent to 9,715 units.
Prices continued to gain traction. The Median Sales Price increased 2.8 percent to$401,000. Days on Market was up 11.4 percent to 39 days. Buyers felt empowered as Months Supply of Homes for Sale was up 4.0 percent to 2.6 months.
Heading into June, there were 1.54 million units for sale across the country, a 6.2%increase from the previous month and a 20.3% improvement over the same period last year, representing a 4.6-month supply at the current sales pace, according toNAR. Despite the additional supply, home prices have continued to rise nationwide,albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to$422,800 as of last measure.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
