The U.S. housing supply gap grew to an estimated 4.03 million homes in 2025, up
from 3.8 million in 2024, according to Realtor®.com’s 2026 Housing Supply Gap
Report. Last year, approximately 1.4 million households were formed, exceeding
1.36 million new housing starts. 2025 marked the third-largest annual deficit since
2012, behind only 2020 and 2023.
In the Twin Cities region, for the week ending June 20:
- New Listings increased 10.9% to 1,817
- Pending Sales increased 1.2% to 1,198
- Inventory increased 5.4% to 10,923
For the month of May:
- Median Sales Price increased 1.2% to $399,900
- Days on Market increased 2.3% to 45
- Percent of Original List Price Received decreased 0.3% to 99.7%
- Months Supply of Homes For Sale increased 3.7% to 2.8