The weather was chilly, and so was the housing market in Minnesota in January.
Minnesota Realtors President, Wendy Uzelac says along with the usual winter slowdown, extreme cold and economic uncertainty, buyers and sellers were hesitant to make major purchases…
“Right now, our median prices are running at about 335 (thousand) across the state and about 375 (thousand) in the metros. So prices are still trending a little bit higher statewide and in the metros.”
New listings fell statewide by nine-percent and nearly 11-percent in the Twin Cities. Pending sales fell 11.4-percent statewide and nearly 13-percent in the metro.
Uzelac says the good news is that all signs are pointing to a strong 2026 for both buyers and sellers..
“I really do believe that there’s pent-up demand on both sides of the coin, and hopefully that will all come together to make moves possible for both the first-time homebuyers and then people being able to envision themselves in their next home.”
First-time buyers face the biggest hurdle, while move-up buyers and down-sizers aren’t as squeezed.
(content: in part, courtesy MNN)
