August 2025
U.S. existing-home sales rose 2.0% month-over-month and 0.8% year-over-year to a seasonally adjusted annual rate of 4.01 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast a rate of 3.92 million units. Regionally, sales increased on a monthly basis in the West,South, and Northeast, but declined in the Midwest.
New Listings in the Twin Cities region decreased 0.9 percent to 5,936. Pending Sales were up 4.8 percent to 4,249. Inventory levels fell 0.2 percent to 10,225 units.
Prices continued to gain traction. The Median Sales Price increased 2.8 percent to$399,999. Days on Market was up 5.0 percent to 42 days. Sellers were encouraged as Months Supply of Homes for Sale was down 3.6 percent to 2.7 months.
Nationally, 1.55 million units were listed for sale heading into August, up 0.6% from the previous month and 15.7% higher than the same time last year, representing a 4.6-month supply at the current sales pace, according to NAR. Inventory is now at its highest level since May 2020, a shift that has helped slow price growth in many markets. As a result, the national median existing-home sales price edged up just0.2% year-over-year to $422,400.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
