{"id":83817,"date":"2026-02-03T08:26:52","date_gmt":"2026-02-03T16:26:52","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=83817"},"modified":"2026-02-05T12:35:31","modified_gmt":"2026-02-05T20:35:31","slug":"minneapolis-housing-market-update","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/minneapolis-housing-market-update\/","title":{"rendered":"Minneapolis Pending Home Sales Dropped Nearly 20% in January, New Listings Fell 5%"},"content":{"rendered":"

Local Redfin agents say high costs and frigid weather are the primary reason fewer people are buying and selling homes in Minneapolis. ICE activity and protests are factors too, but smaller ones.<\/i><\/strong><\/p>\n

Minneapolis pending home sales fell 19.2% year over year during the four weeks ending January 25, the biggest decline among the 50 most populous U.S. metros outside the Bay Area.\u00a0 <\/span><\/p>\n

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On the selling side, new listings of homes for sale in Minneapolis<\/a> fell 5.4% year over year.\u00a0<\/span>Sales and listings are falling faster in Minneapolis than the U.S. as a whole. Nationwide, pending home sales <\/span>declined 1.6%<\/span><\/a> year over year and new listings increased by roughly 1%. <\/span><\/p>\n

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High Costs and Winter Weather Are Stalling Sales; ICE Is a Secondary Factor<\/b><\/p>\n

Pending sales have been dropping by double digits in Minneapolis since mid-December. New listings have also been dropping over that period. That coincides with the U.S. Department of Homeland Security sending <\/span>federal ICE agents<\/span><\/a> to Minnesota with the <\/span>stated purpose<\/span><\/a> of apprehending and deporting undocumented immigrants, putting residents on edge and causing some to <\/span>stay inside their homes<\/span><\/a> and avoid day-to-day activities. That has led to widespread anti-ICE protests, in which tens of thousands of people are marching city streets after federal agents <\/span>fatally shot<\/span><\/a> two Minneapolis residents. And hundreds of businesses in the Twin Cities shut down <\/span>last week<\/span><\/a> and the <\/span>week before that<\/span><\/a> as part of the protests.<\/span><\/p>\n

Local Redfin agents say ICE activity is just one small factor in Minneapolis\u2019 housing-market slowdown, attributing most of it to high costs and frigid winter weather. There are a few small ways ICE activity is contributing to the stalling housing market:<\/span><\/p>\n