July 2025
U.S. existing-home sales fell 2.7% from the previous month to a seasonally adjusted annual rate of 3.93 million, according to the National Association of REALTORS®(NAR). Sales were unchanged from one year earlier. Regionally, monthly sales declined in the Midwest, Northeast, and South but rose in the West. Year-over-year, sales decreased in the Northeast and West but increased in the South and Midwest.
New Listings in the Twin Cities region increased 5.8 percent to 6,770. Pending Sales were up 4.3 percent to 4,391. Inventory levels rose 1.8 percent to 10,195 units.
Prices continued to gain traction. The Median Sales Price increased 2.6 percent to $395,000. Days on Market was up 11.1 percent to 40 days. Absorption rates were even with last year as Months Supply of Homes for Sale remained flat at 2.7 months.
Nationally, the median existing-home sales price rose 2.0% year-over-year to $435,300, a new monthly high and the 24th consecutive month of annual price gains, according to NAR. Slower sales activity has contributed to rising inventory this year, with 1.53 million properties listed for sale heading into July, a 15.9% increase from the same time last year and equivalent to a 4.7-month supply at the current sales pace.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
