What’s at Stake for Housing and Homeownership:
The 2025 Minneapolis municipal election is here, and all eyes are on what vision is best to lead Minneapolis into a prosperous future. Our elections play a critical role in shaping economic and housing health both locally and statewide, so it’s no surprise that both Minneapolitans and Greater Minnesotans are paying attention to who will lead the city forward.
We know that the city has its challenges regarding housing opportunities, public safety, revitalization of our business corridor, and building public trust. But there’s also a clear sense of opportunity and an eagerness for change under renewed leadership in the Minneapolis City Council.
That’s why through the work of our Government Affairs Committee, MN-RPAC has endorsed a slate of candidates who we believe will strengthen the future of Minnesota’s largest city and reflect an interest in advocating for policies that uplift homeownership opportunity and protect private property rights.
What the Market Is Telling Us
At MAR, we value using objective research and data to evaluate what’s happening in a city’s real estate market. Here are a few quick facts about how residential real estate in Minneapolis compares to the Twin Cities metro overall in the past three months:
- Buyer activity in both Minneapolis and the Twin Cities is up compared to last year, but demand remains slower than historic norms across the metro.
- Inventory has been critically low for over a decade in both Minneapolis and across the metro, but absorption rates are returning to more historic trends.
- Median sales prices have been slow to return to a 3.5% historic average growth rate in Minneapolis as well as the Twin Cities overall, but September showed promising price growth for Minneapolis.
- Market pace has also returned to historic averages for Minneapolis and the Twin Cities.
- Seller flexibility seems to have increased compared to the past 10 years, though sellers in Minneapolis are holding to historic negotiating trends much closer than the metro at large.
- Market share of closed sales in Minneapolis’s urban center has been marginally slowing since 2014, but low mortgage interest rates in the past five years allowed buyers to stay or move into Minneapolis.
Main takeaway: while the overall Twin Cities are still on the road to recovery from the highs and lows of the past five years, Minneapolis is performing in line with the rest of the metro area when it comes to residential real estate activity. It’s clear to us that the sky isn’t falling in Minneapolis, and we’ll focus on the practical concerns that MAR’s advocacy efforts have raised about the current Minneapolis City Council.
Why This Election Matters
Stable housing markets depend on sound policy. MAR’s advocacy work focuses on ensuring city leaders understand how local policies and decisions ripple through communities, from property owners and renters to small businesses and neighborhoods.
As your Government Affairs Director, it’s my job to closely follow the Minneapolis City Council’s actions and ensure Realtor® voices are represented when key housing and economic impacts are at stake. I’ve had the privilege to meet each city council member, and while it’s clear that that some council members are more aligned with Realtor® values than others, the reality of building support for local policies is much more complex than yes/no. Councilmembers who are starkly opposed to one issue we support are often finding common ground with Realtors® on another critical area.
Each fall, MAR’s Government Affairs Committee evaluates candidates seeking MN-RPAC’s endorsement. The committee takes candidates’ stances on a wide range of issues, past interactions and collaborations, and formal interviews on housing issues into consideration to determine who aligns most with Realtor® values and priorities.
MN-RPAC’s 2025 Candidate Endorsements
Thanks to our Government Affairs Committee’s work and recommendations, MN-RPAC has endorsed 21 candidates for city offices across the Minneapolis metro. Each endorsed candidate believes that the Realtor® perspective is valuable, especially when housing, homeownership, housing supply, or property rights are concerned. This list contains familiar Realtor® champions who have supported our interests from the start, as well as newcomers we believe can work with us on issues impacting your business.
Not every candidate will agree with us on every issue — and that’s okay. What matters is that they are willing to listen and collaborate with experts in the space—Realtors®—and lead with fairness and understanding.
Take a look at MN-RPAC’s candidate endorsements in their respective wards here: https://www.mplsrealtor.com/advocacy/#candidates
Questions or concerns? Interested in how to become involved in this advocacy work? I’d love to hear from you. Reach me at My****@*********or.com
Myles Artis
Government Affairs Director
Minneapolis Area Realtors®