Middle-income buyers—those earning between $75,000 and $100,000 annually—can afford 21.2% of all home listings, up from 20.8% a year ago, according to a new report from the National Association of Realtors® and Realtor®.com. While an improvement, affordability remains far below pre-pandemic levels: in 2019, buyers in this income bracket could afford nearly 49% of listings.
In the Twin Cities region, for the week ending June 28:
- New Listings decreased 0.3% to 1,410
- Pending Sales decreased 2.3% to 1,040
- Inventory increased 4.9% to 10,046
For the Month of May:
- Median Sales Price increased 2.6% to $395,000
- Days on Market increased 7.3% to 44
- Percent of Original List Price Received remained flat at 100.0%
- Months Supply of Homes For Sale increased 8.3% to 2.6