Published October 25, 2026 in Market Update

More listings showed up, but Primary market still stayed tight

By Michael McGivern

Real estate, Primary market

The one fact that changes what you should do: more sellers are coming to market, but there are still not enough homes to tip the balance toward buyers. That means more competition for sellers, not less urgency for buyers.

The Real Estate Data Aggregator counted 1,147 homes for sale across the Primary market in the three months ending August 31, 2026. That is up 13.3% from the same months of 2025. More choice than last year. Still tight.

New listings rose 9.6% to 1,938, according to the Real Estate Data Aggregator. More sellers showed up. But the National Association of Realtors reported that national inventory reached only 1.60 million homes in September 2026. The broader market is not flooded either.

Freddie Mac put the average 30-year fixed rate at 7.32% as of October 22, 2026. That is the cost of waiting. It is also the cost of buying. Neither side gets a free pass right now.

What more listings actually means for you

If you are selling: your home will face more competition than it did a year ago. The Real Estate Data Aggregator shows pending sales across the Primary market dipped 0.5% year over year. Buyers are still out there. They are just a little pickier.

If you are buying: you have a bit more to look at. But 1,147 homes across 20 ZIP codes is not a wide-open field. Come prepared.

Months of supply by ZIP, three months ending August 31, 2026

Months of supply tells you how long the current inventory would last if no new homes came to market. Below three months is generally considered a seller's market. Most of these ZIP codes are well below that.

ZIP 55431 in Minneapolis had just 1.1 months of supply, the tightest in the market, per the Real Estate Data Aggregator. ZIP 55425 in Minneapolis sat at 5.9 months, the loosest of any ZIP in this market. Same city. Very different story.

Speed: how fast are homes going under contract?

The Real Estate Data Aggregator tracks the share of homes that went under contract within two weeks of listing. In ZIP 55420 in Minneapolis, that share was 66.7%. In ZIP 55431 in Minneapolis, it was 65.3%. In ZIP 55435 in Minneapolis, it was 34.8%. Two weeks is the line that separates a priced-right home from one that sits.

Prices: most held, a few slipped

Most ZIP codes held or grew their median sale price, according to the Real Estate Data Aggregator. ZIP 55438 in Minneapolis rose 30.2% to $455,000. ZIP 55436 in Minneapolis rose 10.6% to $760,000. ZIP 55435 in Minneapolis fell 18.4% to $279,900. Not every ZIP moved together.

The national picture, as of October 25, 2026

The National Association of Realtors reported that existing-home sales reached 3.99 million in September 2026. National prices rose 1.3% year over year, the Association said. Freddie Mac put the 30-year fixed rate at 7.32% and the 15-year fixed rate at 6.68% as of October 22, 2026. Rates above 7% are the backdrop for every decision right now.

One street can read differently from the whole ZIP

These numbers cover whole ZIP codes. A block of newer construction, a street near a park, a pocket of condos: each one can sit in a different part of this market. The ZIP code average is a starting point, not the final word.