The average monthly mortgage payment on a median-priced home reached a record high of $2,570 in 2024, based on a 30-year fixed-rate loan and a 3.5% down payment, according to the State of the Nation’s Housing 2025 report from Harvard University’s Joint Center for Housing Studies. Using a 31% debt-to-income ratio, a homebuyer would need to earn at least $126,700 per year to afford that monthly payment.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 9:

• New Listings decreased 6.9% to 1,408
• Pending Sales increased 8.5% to 1,005
• Inventory increased 2.2% to 10,268

FOR THE MONTH OF JULY:

• Median Sales Price increased 2.6% to $395,000
• Days on Market increased 11.1% to 40
• Percent of Original List Price Received decreased 0.2% to 99.3%
• Months Supply of Homes For Sale remained flat at 2.7

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

U.S. housing starts rose 4.6% month-over-month to a seasonally adjusted annual rate of 1,321,000 units, according to the U.S. Census Bureau. Single-family housing starts decreased 4.6% from the previous month to a seasonally adjusted annual rate of 883,000 units, while multi-family starts jumped 30.6% to 414,000 units.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 2:

• New Listings increased 2.0% to 1,514
• Pending Sales decreased 8.3% to 979
• Inventory increased 3.4% to 10,301

FOR THE MONTH OF JUNE:

• Median Sales Price increased 2.8% to $401,000
• Days on Market increased 11.4% to 39
• Percent of Original List Price Received decreased 0.1% to 100.0%
• Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Nationally, active listings reached 1.08 million in June, a 28.9% increase from a year earlier, according to Realtor®.com’s June 2025 Monthly Housing Market Trends Report. The typical home spent 53 days on the market, five days longer than last June, while 20.7% of listings had price reductions, the highest June share since at least 2016.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JULY 26:

• New Listings decreased 4.7% to 1,433
• Pending Sales increased 5.5% to 1,016
• Inventory increased 4.0% to 10,262

FOR THE MONTH OF JUNE:

• Median Sales Price increased 2.8% to $401,000
• Days on Market increased 11.4% to 39
• Percent of Original List Price Received decreased 0.1% to 100.0%
• Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

As housing inventory builds up, an increasing number of U.S. homebuilders have been making price reductions to help boost new-home sales. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), 37% of builders reported cutting prices in June, up from 34% in May. The average price reduction was 5%, while the use of sales incentives, including mortgage rate buydowns, rose slightly to 62%.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JULY 12:

• New Listings increased 9.9% to 1,843
• Pending Sales increased 3.9% to 949
• Inventory increased 5.8% to 9,901

FOR THE MONTH OF JUNE:

• Median Sales Price increased 2.8% to $401,000
• Days on Market increased 11.4% to 39
• Percent of Original List Price Received decreased 0.1% to 100.0%
• Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.