Bruce Erickson

For Week Ending September 5, 2026

The economy added 162,000 jobs in August, more than three times what forecasters expected, according to the Bureau of Labor Statistics. The strong report, combined with upward revisions to prior months, suggests the job market remains resilient despite higher borrowing costs. Residential construction added 7,300 positions as builders continue to address housing supply. For buyers weighing their options, the robust employment picture signals stability — but it also raises the odds that the Federal Reserve may raise rates at its September meeting, making now a potentially opportune time to lock in financing.

In the Twin Cities region, for the week ending September 5:

• New Listings decreased 16.7% to 1,335
• Pending Sales increased 7.8% to 916
• Inventory increased 10.1% to 11,879

For the month of July:

• Median Sales Price increased 3.4% to $408,475
• Days on Market increased 2.5% to 41
• Percent of Original List Price Received decreased 0.2% to 99.1%
• Months Supply of Homes For Sale increased 10.7% to 3.1

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending August 29, 2026

Mortgage rates edged higher this week, with the 30-year fixed-rate mortgage averaging 6.71% as of September 3, according to Freddie Mac. This is up from 6.66% the prior week and 6.50% a year ago. Purchase demand has remained relatively stable, indicating steady interest from buyers adapting to evolving market conditions despite rates hovering near multi-year highs.

In the Twin Cities region, for the week ending August 29:

• New Listings increased 15.9% to 1,391
• Pending Sales decreased 5.6% to 908
• Inventory increased 9.6% to 11,947

For the month of July:

• Median Sales Price increased 3.3% to $408,000
• Days on Market remained flat at 40
• Percent of Original List Price Received decreased 0.2% to 99.1%
• Months Supply of Homes For Sale increased 7.1% to 3.0

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.