In May, home listings increased by 8% compared to May, 2021. This is the first increase since pre-pandemic.
According to KNSI Live, St. Cloud Area Association of Realtors President Kelly Schepers says the local market isn’t showing the same amount of change. Area inventories fell by 1.7 percent in central Minnesota in May. Schepers says pending sales are down roughly 15%, so listings are taking longer to turn into closings, but the difference is small. Schepers says it is too early to say the market is in transition to a more buyer-friendly climate.