09/18/2026
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.
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.