July 2026
U.S. existing-home sales declined 2.4% from the previous month to a seasonally adjusted annual rate of 4.09 million units, according to the National Association of REALTORS® (NAR). Regionally, sales increased in the Northeast but declined in the West, South, and Midwest. Compared to a year earlier, existing-home sales rose 2.8%, with gains in the Midwest, South, and West while remaining unchanged in the Northeast.
New Listings in the Twin Cities region increased 8.0 percent to 7,388. Pending Sales were up 3.0 percent to 4,534. Inventory levels rose 6.7 percent to 11,586 units.
Prices continued to gain traction. The Median Sales Price increased 3.3 percent to $408,000. Days on Market remained flat at 40 days. Buyers felt empowered as Months Supply of Homes for Sale was up 7.1 percent to 3.0 months.
Nationally, the median existing-home price hit a new record of $440,600, a 1.8%increase from a year earlier, NAR reported. Home prices have now increased on an annual basis for 36 consecutive months, reflecting continued demand despite inventory remaining below historically balanced levels. Heading into July, there were 1.56 million properties for sale, down 0.6% month-over-month but up 1.3% from the same period last year, representing a 4.6-month supply at the current sales pace. Homes spent a median of 28 days on the market, with first-time home buyers accounting for 33% of home purchases.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
