September 2025
U.S. existing-home sales were virtually unchanged from the previous month, dippingjust 0.2% to a seasonally adjusted annual rate of 4.0 million units, according to the National Association of REALTORS® (NAR). Most of these transactions went under contract in June and July, when mortgage rates were 40 to 50 basis points higher than current levels. Year-over-year, sales increased 1.8%, with the strongest activity occurring in the Midwest, where the typical home price is 22% below the national median.
New Listings in the Twin Cities region increased 5.2 percent to 6,343. Pending Sales were up 7.9 percent to 4,003. Inventory levels fell 1.0 percent to 10,573 units.
Prices continued to gain traction. The Median Sales Price increased 2.6 percent to $390,000. Days on Market was up 12.8 percent to 44 days. Sellers were encouraged as Months Supply of Homes for Sale was down 6.9 percent to 2.7 months.
Nationally, housing inventory declined for the first time this year, slipping 1.3% month over-month to 1.53 million units, representing a 4.6-month supply at the current salespace, according to NAR. Despite the monthly drop, total inventory remained 11.7%higher than the same time last year. Meanwhile, the median existing-home price rose2% year-over-year to $422,600, though it was essentially flat compared to the prior month.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
