The numbers are not all in yet so I’ll hold off until Monday before publishing my monthly home sales by St. Paul neighborhood report. I just had to take a peak and see what the numbers are going to look like.
Here is what I am seeing. Home supply was actually up in St. Paul but there is still slightly less than a two month supply of homes for sale. Prices were up 7% from April in St. Paul and up an average of 6.5% in the seven-county metro area.
Home sales were down 5% in May in St. Paul and 3% of a percent in the seven-county metro area. Pending home sales are down 7% in St. Paul and an average of 5% for the 7 county metro area.
Home sales are down because there are fewer homes on the market not because people are not buying homes. New listings were down 3 to 5% across the metro area for May.
I think that the level of civil unrest that we have had during the last week of May and the first week of June will also have an impact on home sales.
If you are interested in selling real estate or buying it please contact me for a free no-obligation consultation.