Minnesota state and Twin Cities metro Realtor associations report more homes were listed last month at lower rates but fewer sales were made compared to October 2024.

Pending sales fell both in the metro and statewide during the same timeframe. Those results come even though the realtor group reports mortgage rates touched their lowest level in a year last month.

The groups attribute the softer demand to several factors including a weakening labor market and rising inflation.

Patti Jo Fitzpatrick is the president of Minnesota Realtors. She said consumer confidence may also have been shaken due to the government shutdown.

“Buyers are maybe holding off a little bit, you know, thinking about interest rates,” she said. “Maybe they're coming down a bit, but still, affordability is still a t

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