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Twin Cities Housing Market: Still Quiet — and That’s the Point
If this week’s market data feels familiar, that’s because it is.
And that’s actually the story.
📉 Showings: Still Soft, Still Expected
Showing activity was down 19.7% compared to last year — almost a carbon copy of late December.
Before anyone panics:
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This is the first real week back after the holidays
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Buyers are just re-entering the conversation, not booking tours en masse
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Sellers are still watching, not acting
This isn’t momentum yet. It’s orientation.
💰 Where Buyers Are (and Aren’t)
The most telling number this week isn’t the overall drop — it’s where activity is holding.
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$800K–$1M showings were up 16.7% year-over-year
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$300K–$400K showings were down 21.6%, even though this range still accounts for nearly 28% of all showings
Translation:
There are plenty of buyers in the market — they’re just taking their time and skipping anything that feels overpriced, compromised, or “we’ll see what happens.”
🏰 Luxury Reality Check
Homes over $1M made up 2% of total showings.
Luxury buyers haven’t left.
They’ve just gotten extremely disciplined.
This is a strategy-driven market, not an emotional one. Pricing precision and presentation are non-negotiable.
📊 Mortgage Rates: The New Normal
Rates averaged 6.2% nationally last week.
At this point, rates aren’t the headline — they’re the backdrop.
Buyers who are active now have accepted this range and are focused on:
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Long-term value
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Payment comfort
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Negotiation leverage
🧠 The Real Takeaway
The market isn’t stalled.
It’s paused at the starting line, stretching, recalibrating, and shaking off the holidays. January always starts quiet. Momentum typically builds as we move toward late January and early February, especially if rates stay relatively steady.
If you’re a seller, pricing and preparation matter more than optimism.
If you’re a buyer, patience plus clarity is your advantage.
More to come as the year wakes up.
