09/17/2026
Seller activity climbs faster than sales as Minnesota market rebalances
Minnesota’s housing market showed mixed signals in August. Statewide sales declined for the first time in five months as higher inflation, energy prices, and mortgage rates weighed on activity. Still, so far in 2026, new listings and pending sales are up statewide as more sellers test the market.
Statewide inventory remained at a seven-year high in August, and new listings rose for the seventh consecutive month. Conditions were the most balanced for any August since 2017, though supply is still low historically.
More homes are hitting the market, so buyers have been more active overall, and prices continue to rise but at a more sustainable pace. Minnesota’s housing market is showing encouraging signs of balance and stability.
—Wendy Uzelac, Minnesota Realtors® President
Despite more supply and easing demand, prices haven’t retreated—the statewide median sales price rose 2.8% in August. Subdued demand is limiting how fast prices grow, but a persistent supply shortage keeps price growth in the positive territory.
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