Over the past four weeks, the U.S. real estate market entered a typical summer slowdown exacerbated by borrowing pressures as average 30-year fixed mortgage rates spiked to a high of 6.66%. Despite these elevated rates tightening buyer budgets, underlying demand held firm, with pending home sales marking an eighth consecutive month of year-over-year growth at the national level.

In the Twin Cities region, for the week ending August 1:

• New Listings increased 9.3% to 1,691
• Pending Sales increased 2.1% to 1,029
• Inventory increased 6.9% to 11,550

For the month of June:

• Median Sales Price increased 2.1% to $410,000
• Days on Market increased 7.7% to 42
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale increased 7.4% to 2.9

All comparisons are to 2025

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