26 Mar February 2025 Housing Report
Each month the Minnesota Area Realtors put out a Housing Report for the prior month! At any rate, with another month in the books, the February Housing Report is hot off the press. Please take a moment to scan the graphic, read the blog, or gander at the always intriguing statistics report.
At this point, the repetition and copy/paste mentality of the analysis is truly sounding like a broken record. Sales prices continue to rise, inventory is flat, and rates are a major concern. Sound familiar? The fact is that the overarching statistics truly are staying consistent. However, the nuances that are “felt” within the market did see a slight adjustment. If you remember last month, I had mentioned that buyer activity was picking up at a solid rate across the board. While pockets remain where multiple offers occur on appropriately priced homes in desirable locations (both lower and higher end), the typical activity build up during a normal spring market did hit a brief pause following the recent weakness in the stock market. This is not an atypical response since fear can elicit a general hesitation, but it is worth noting regardless and I believe it will be short-lived.
So what’s my tip for the next 30 days? At this very moment, do not adjust your timeline or plan based on a few outside factors creating negative headlines. From what I am seeing, real estate continues to move and any perceived weakness from a buying perspective could be viewed as an opportunity. Also, if you have questions, don’t hesitate and reach out to a professional for advice.
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