Mortgage rates edged higher this week, with the 30-year fixed-rate mortgage averaging 6.71% as of September 3, according to Freddie Mac. This is up from 6.66% the prior week and 6.50% a year ago. Purchase demand has remained relatively stable, indicating steady interest from buyers adapting to evolving market conditions despite rates hovering near multi-year highs.

In the Twin Cities region, for the week ending August 29:

• New Listings increased 15.9% to 1,391
• Pending Sales decreased 5.6% to 908
• Inventory increased 9.6% to 11,947

For the month of July:

• Median Sales Price increased 3.3% to $408,000
• Days on Market remained flat at 40
• Percent of Original List Price Received decreased 0.2% to 99.1%
• Months Supply of Homes For Sale increased 7.1% to 3.0

All comparisons are to 2025

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