Minnesota Real Estate in June: Sales Up 13% YoY, Inventory Down 41% YoY

Note: I'm tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.

From the Minnesota Realtors®:

Total Residential Units Sold in June 2021 were 10,386, up 12.9% from 9,203 in June 2020.

Active Residential Listings in June 2021 were 10,227, down 40.8% from 17,285 in June 2020.

Months of Supply was 1.2 Months in June 2021, compared to 2.4 Months in June 2020.

Click on graph for larger image.

This graph from the Minnesota Realtors® shows inventory in Minnesota since 2012. Inventory had been trending down, and then was somewhat flat for a few years, and then declined significantly during the pandemic.

Active inventory was up 14.2% from the previous month, and up 24.6% seasonally from the all time low in February 2021.   Usually, at this time of the year, we'd expect active inventory of around 23,000 in Minnesota, so current inventory is still extremely low.