May 2026
U.S. existing-home sales edged up 0.2% from the previous month to a seasonally adjusted annual rate of 4.02 million, according to the National Association of REALTORS® (NAR). Sales remained unchanged year-over-year. Regionally, existing home sales rose in the Midwest and South, were flat in the Northeast, and declined in the West. Year-over-year, sales increased in the South, held steady in the West, andfell in the Northeast and Midwest.
New Listings in the Twin Cities region increased 4.3 percent to 7,479. Pending Sales were up 10.6 percent to 5,254. Inventory levels rose 4.0 percent to 10,600 units.
Prices continued to gain traction. The Median Sales Price increased 1.0 percent to$399,000. Days on Market was up 2.3 percent to 45 days. Buyers felt empowered as Months Supply of Homes for Sale was up 3.7 percent to 2.8 months.
National inventory climbed 5.8% month-over-month and 1.4% year-over-year, with approximately 1.47 million properties listed for sale heading into May, NAR reported.At the current sales pace, that represents a 4.4-month supply, reflecting a modest improvement in inventory conditions compared to a year earlier. Homes spent a median of 32 days on the market, down from 41 days the previous month, while the median existing-home price increased to $417,700, up 0.9% from a year ago.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
