Housing Market Press Releases
Buyers grapple with affordability challenges amidst rising rates and home prices
Twin Cities home prices rose as sellers continued receiving strong offers despite slightly longer market times. Meanwhile, buyers signed 18.4 percent fewer purchase agreements than last year. While these signal a rebalancing marketplace, the persistent shortage of homes in the region should keep prices resilient.Twin Cities housing supply up for the first time in two years
According to new data from Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, the Twin Cities metro area ended the month of May with 6,797 homes, 5.3 percent more homes than last May. This is the first year-over-year inventory increase since March of 2020.Home prices hit $370,000 as rates push affordability to lowest level since 2004
According to new data from the Saint Paul Area Association of REALTORS® and Minneapolis Area REALTORS®, the Twin Cities metro area saw rising prices, fast market times and strong offers—often over asking price—during April.February 2022 Overview: Sales Begin Seasonal Upswing, But Down From Last Two Unusually Strong Februarys
According to new data from Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, buyer activity in the Twin Cities metro showed its first month-over-month gain since August 2021. As the Covid reshuffle continues to temper, sales are down compared to February of 2020 and 2021, but up from 2019 levels.Twin Cities Housing Market Returning to Historic Trends
According to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, buyer activity in the month of July more closely resembled a typical, pre-pandemic summer than the frenzied buying spree seen over the last year or so. Demand as measured by pending sales was down 11.2 percent from July 2020 but was flat compared to July 2019.'Twin Cities Median Sales Price Hit Milestone $350,000
Buyers faltered for the first time in twelve straight months of increased demand.Demand For Homes Continues To Increase, Tightening Market Inventory
According to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, buyer activity in May was up 15.7 percent compared to last year, a twelfth-straight increase in month-over-month pending sales. Demand from buyers in the Twin Cities metro continues to out-pace the supply of new listings into the market.Supply Rebounds from 2020 Levels While Demand Continues to Rise
Market times fastest in 14 years amid record home prices in the Twin Cities