30 Jul June 2025 Housing Report
Each month Minnesota Realtors puts out a report for the last months housing report sharing stats and updates! The May Housing Report is out and ready for your consumption.
Check out the blog here, the stats under this link, or take a quick glance at the snapshot below.
Just as our summer weather has been a bit sporadic at times, the housing market has tended to also be erratic. I am witnessing ebbs and flows as it relates to inventory and general activity with seemingly no real reasoning behind it. And what’s interesting in the blog is that inventory overall continues to go up. Don’t get me wrong, moving towards the direction of being balanced is wonderful. However, if you ask a lot of buyers out there, the rise in supply is of a far lesser quality, which has created a mounting frustration. The other aspect that cannot be overlooked is affordability. We have seemingly talked about this as being a concern for many years, but with pricing hitting a record AND rates staying at a stubborn level, the affordability index has hit an all-time low.
So…with junk inventory and a less than inspiring rate hitting you in the face, what’s your tip for the month? Continue to be smart. Don’t settle when it comes to real estate because unlike a rental that has a set expiration, moving a piece of real estate that might be less desirable can be difficult and expensive. Patience is the key and always remain focused on your own circumstance.
No Comments