Twin Cities home listings rise while prices slip in April 2026

New listings in the Twin Cities metropolitan area increased by nearly 9 % year‑over‑year in April, and pending sales rose about 7 % statewide, according to the April 2026 Housing Market Report from Minnesota Realtors. Despite the inventory gain, median home prices fell 2 % in the metro area to $392,000, the sharpest decline in more than a decade, while statewide prices remained flat.

Sales volume dipped more than 3 % from the previous April, with 3,800 closings and an average market time of 57 days. Realtors cite high mortgage rates, renewed inflation and broader economic uncertainty as the main barriers to affordability. "More listings and more sales are encouraging signals heading into the heart of the spring market, but monthly payments are still the biggest hurdle for most households," said Wendy Uzelac, president of Minnesota Realtors. "Move‑up buyers and downsizers with equity continue to drive this market," added Aarica Coleman, president of Minneapolis Area Realtors.

The market remains tight, with inventory low relative to demand, and buyers awaiting clearer job‑security signals. Professionals suggest that any sustained improvement in mortgage rates could open opportunities for first‑time buyers, while realistic pricing may help sellers attract qualified offers.