March 2026
U.S. existing-home sales unexpectedly rose 1.7% month-over-month to a seasonally adjusted annual rate of 4.09 million, as lower mortgage rates helped boost buyer activity, according to the National Association of REALTORS® (NAR). Monthly sales increased in the Midwest, South, and West but decreased in the Northeast. Sales increased year-over-year in the South, but fell in the Northeast, Midwest, and West.
New Listings in the Twin Cities region increased 1.9 percent to 6,182. Pending Sales were down 2.9 percent to 4,126. Inventory levels rose 3.3 percent to 8,524 units.
Prices were even with last year. The Median Sales Price held steady at $380,000. Days on Market was up 5.1 percent to 62 days. Buyers felt empowered as Months Supply of Homes for Sale was up 4.5 percent to 2.3 months.
Data from NAR show that inventory continued to grow nationwide, ticking up 2.4% month-over-month and 4.9% year-over-year to 1.29 million units heading into March, representing a 3.8-month supply at the current sales pace. Meanwhile, home prices increased for the 32nd consecutive month, climbing 0.3% year-over-year to $398,000.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
