February 2026
Despite improving affordability conditions, U.S. existing-home sales declined 8.4% to a seasonally adjusted annual rate of 3.91 million, a 4.4% drop from one year earlier, according to the National Association of REALTORS® (NAR). The slowdown followed a 5.1% increase the previous month and modest gains throughout the fall. Sales retreated month-over-month and year-over-year in all four regions.
New Listings in the Twin Cities region increased 0.4 percent to 4,570. Pending Sales were down 3.5 percent to 2,958. Inventory levels rose 2.0 percent to 7,946 units.
Prices were even with last year. The Median Sales Price held steady at $380,000. Days on Market remained flat at 69 days. Absorption rates were even with last year as Months Supply of Homes for Sale remained flat at 2.1 months.
Nationally, the median existing-home price inched up 0.9% year-over-year to $396,800, a new high for the month, NAR reported. Home prices have continued to rise across much of the country, in part due to low supply, which remains below pre-pandemic levels. Total housing inventory stood at 1.22 million units as of the most recent reading, up 3.4% from one year earlier, representing a 3.7-month supply at the current sales pace.
– SAINT PAUL AREA ASSOCIATION OF REALTORS®
