April 2025
U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year-over-year to a seasonally adjusted annual rate of 4.02 million units, according to the National Association of REALTORS® (NAR), as affordability challenges and economic uncertainty weigh on market activity. Sales were down month-over-month in all four regions, with the West experiencing the largest decline, at 9.4%.
New Listings in the Twin Cities region increased 5.5 percent to 6,754. Pending Sales were up 3.6 percent to 4,498. Inventory levels rose 4.8 percent to 8,617 units.
Prices continued to gain traction. The Median Sales Price increased 3.5 percent to $398,900. Days on Market was up 8.7 percent to 50 days. Buyers felt empowered as Months Supply of Homes for Sale was up 4.5 percent to 2.3 months.
Total housing inventory increased 8.1% month-over-month for a total of 1.33 million units heading into April, equivalent to a 4.0-month supply at the current sales pace, according to NAR. Although inventory is up nearly 20% from the same time last year, the additional supply has had little effect on home prices across much of the country, with the national median existing-home price climbing 2.7% year-over-year to $403,700 as of last measure.
Source: MAAR
https://maar.stats.10kresearch.com/docs/mmi/x/report?src=page
