Market Conditions

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Market Conditions Closed Sales Down as Median Home Price Dips Closed Sales Down as Median Home Price Dips By MNR News posted 4 days ago   Total number of homes for sale increases during slow start to sales season MINNEAPOLIS (May 17, 2023) — Although the weather was warming, sales activity across the state iced over as closed sales dropped almost 31% compared to April 2022. Other key market indicators felt the […]
Buyers What You Need To Know About Home Price News What You Need To Know About Home Price News The National Association of Realtors (NAR) will release its latest Existing Home Sales Report today. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, […]
Market Conditions Buyer Activity Is Up Despite Higher Mortgage Rates Buyer Activity Is Up Despite Higher Mortgage Rates If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed. Data from the latest ShowingTime Showing Index, which is a […]
Buyers A Recession Doesn’t Equal a Housing Crisis A Recession Doesn’t Equal a Housing Crisis Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a […]
Market Conditions Why Today’s Foreclosure Numbers Are Nothing Like 2008 Why Today’s Foreclosure Numbers Are Nothing Like 2008 You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they really mean is mission-critical if you want to know the truth about what’s happening […]
Market Conditions The Three Factors Affecting Home Affordability Today The Three Factors Affecting Home Affordability Today There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by […]
Market Conditions What Are the Experts Saying About the Spring Housing Market? What Are the Experts Saying About the Spring Housing Market? The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best […]
Buyers Think Twice Before Waiting for Lower Home Prices Think Twice Before Waiting for Lower Home Prices As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social […]
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Market Conditions Is the market really crashing? I am sharing this article today because it resonates so well with me.  If you talked with me recently, you have heard me speak to this almost exactly.  We keep comparing our market to last year, which was an anomaly.  2020 and 2021 were years we exceeded so many milestones that will likely not replicate […]
Buyers Mortgage Rates Decrease – Inflation Decelerates Interest Rates have started to curl back!  There were a lot of contributing factors from the financial segment yesterday, but the biggest is the CPI coming in at 7.7%, which is far better than economists anticipated but still too high for the Fed’s liking. The Fed likes to see no more than 2% year over […]
Buyers Is a Buyer’s Market on the horizon? Buyer’s Market May Be Slowly Moving In Buying a home today has become a bit of a blood sport, rife with bidding wars pushing offers well over the asking price as buyers scramble to land a house. It’s been hard, we won’t lie. But every seller’s market does eventually have an end. Now, it appears that in certain areas, the market pendulum might slowly […]
Market Conditions June Market Update Median sales price climbs and number of overall homes for sale rises MINNEAPOLIS (July 15, 2022) — In June, closed sales of homes declined by nearly 14% compared to a year ago, with a total of 9,208 properties sold across the state. New listings were down 6.4% year-over-year even as the total number of homes for […]

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