March 2025 Advocacy Report

Here is your advocacy update for the month of March! The Saint Paul Area Association of Realtors® Advocacy Report goes out each month and is your one-stop-shop for everything related to Government Affairs throughout SPAAR's jurisdiction.

The Advocacy Report goings out to the entirety of SPAAR's membership. The Report go out monthly. If you're not receiving the advocacy report and would like to, email spaar@spaar.com.

If you have any questions or hear of local advocacy issues that affect the real estate industry, please contact SPAAR's Government Affairs Directors, Becky Wegscheid and Simon Opatz.

SPAAR Chosen as Transforming Neighborhoods Recipient

The Saint Paul Area Association of Realtors® (SPAAR) is pleased to announce that it has been chosen as a 2025 recipient of the National Association of Realtors® (NAR) Transforming Neighborhoods program.

NAR is collaborating with the Counselors of Real Estate® (CRE) Consulting Corps to "provide analysis, strategies, and actionable recommendations to solve today’s top-of-mind real estate challenges in partnership with local REALTOR® associations and key public and private stakeholders".

SPAAR, NAR, and CRE will be focusing on the White Bear Avenue commercial corridor. The hope is to provide recommendations to revitalize the area and create community cohesion as work on the Heights continues.

SPAAR will continue to publicize opportunities through this project to Realtor® members. For questions or comments, please feel free to reach out to SPAAR's government affairs director, Becky Wegscheid.

Voices of Rondo: A Community Conversation

Join fellow Realtors® for an enriching conversation centered around " The Voices of Rondo: Oral Histories of Saint Paul’s Historic Black Community" Meet author Kate Cavett and special guests featured in the book as they share compelling stories, reflect on Rondo’s vibrant past, and discuss its enduring legacy.

This is a joint session of SPAAR’s Book Club and Committee for Diversity, Equity & Inclusion.

Schedule:

11:00am Welcome
11:15am Remarks by author and individuals featured in Voices of Rondo.
12:00pm Lunch
12:30pm Committee for DEI meeting

Note: Lunch will be provided. This session is not approved for continuing education.

Please email SPAAR's government affairs director, Simon Opatz, to RSVP.

February Local Market Update

U.S. existing-home sales fell for the first time since September, slipping 4.9% month-over-month to a seasonally adjusted annual rate of 4.08 million units, according to the National Association of Realtors® (NAR), as elevated home prices and higher interest rates continue to impact buyer activity. Despite the drop, sales were up 2% compared to the same period last year, marking the fourth consecutive monthly year-over-year increase.

New Listings in the Twin Cities region decreased 5.3% to 4,493. Pending Sales
were down 7.7% to 3,065. Inventory levels fell 1.5% to 7,147 units. Prices continued to gain traction. The Median Sales Price increased 6.1% to $380,000. Days on Market was up 16.9% to 69 days. Absorption rates were even with last year as Months Supply of Homes for Sale remained flat at 1.9 months.

The limited number of properties for sale has continued to push home prices higher nationwide. At last measure, the national median existing-home price was $396,900, a 4.8% increase from one year earlier, with prices up in all four regions, according to NAR. Meanwhile, total housing inventory heading into February stood at 1.18 million units, up 3.5% month-over-month and 16.8% year-over-year, for a 3.5-month supply at the current sales pace.

Click Here for Your City's Local Market Update

Advocacy Updates

To view your Advocacy Updates from the East, South, North, West Metro and Minnesota and Nationwide News, check out the Advocacy Updates blog.

Read Advocacy Updates

The GADs Recommend

As the weather starts to warm up, now is the time to get out and about. SPAAR's government affairs directors, Simon Opatz and Becky Wegscheid, are recommending some fun activities to check out around the Twin Cities. Let us know which ones you attend!

Voices of Rondo: A Community Conversation

Join fellow Realtors® for an enriching conversation centered around "The Voices of Rondo: Oral Histories of Saint Paul’s Historic Black Community." Meet author Kate Cavett and special guests featured in the book as they share compelling stories, reflect on Rondo’s vibrant past, and discuss its enduring legacy.

Saint Paul Scavenger Hunt Walking Tour

The Capital of Minnesota has amazing sights at every turn. On this fun-filled Saint Paul scavenger hunt, explore the iconic buildings, great green spaces, and epic sculptures. How many horses gallop atop the State Capitol? Which world famous author hangs out at Rice Park? Find out on this scavenger hunt of Saint Paul!

Twins Game

Baseball is back! Check out a Twins game at Target Field!

MSP International Film Festival

MSPIFF returns April 2-13 to The Main Cinema and other venues around the Twin Cities. As the largest annual celebration of international cinema in the region, MSPIFF44 promises another exciting lineup of 200+ films from around the world, plus an exciting array of parties, panels, visiting filmmakers, and special guests.

Minnesota Craft Beer Festival

Held in the heart of Minneapolis, this is your chance to sip on hard-to-find favorites and explore unique flavors alongside fellow beer lovers. Don’t miss out on this incredible lineup of breweries at the Minneapolis Convention Center—grab your tickets and join us for an unforgettable day!

Member Updates

If you have an issue in your community that needs the attention of Realtors® or if you have interesting advocacy stories to share, please reach out to Vice President of Advocacy & Community Engagement Joe McKinley or Government Affairs Directors, Simon Opatz or Becky Wegscheid.

The work of the Realtor® Party relies on your investment in the Realtors® Political Action Committee (RPAC)

Click here to learn about RPAC's non-partisan advocacy for homeowners and the real estate industry.