The number of homes available for sale was up 48.3% year-over-year in April, according to Realtor.com’s latest Monthly Housing Market Trends Report, although inventory remains well below pre-pandemic levels. Inventory increased in 42 out of 50 of the largest metros annually, with the typical home spending 41 days on market, up from 26 days the same time last year. Nationally, listing price growth has also softened, rising 2.85% year-over-year, the lowest rate of growth since April 2020.

In the Twin Cities region, for the week ending May 20:

•New Listings decreased 21.9% to 1,630
•Pending Sales decreased 28.6% to 1,063
•Inventory decreased 7.3% to 6,629

For the month of April:
•Median Sales Price decreased 0.3 percent to $369,000
•Days on Market increased 64.3% to 46
•Percent of Original List Price Received decreased 3.6% to 100.1%
•Months Supply of Homes For Sale increased 33.3% to 1.6

FULL REPORT