13 Jun March 2024 Housing Report
Each month the Minnesota Area Realtors puts out a housing report for the prior month! Matt, our broker, breaks them down and offers some insights on the report! Please check them out each month and reach out if you have questions!
Please take a peek at the March 2024 housing report. You can take a look at the blog and stat reports in their corresponding links.
Generally speaking, the message is about what you would expect out of a spring market. Multiple offers more frequently popping up based on a variety of factors and affordability/supply still being the major talking points. At this stage, none of this should be a surprise to anyone and it really does sum up what is currently taking place. Where I think buyers, sellers, and agents alike continue to be proven wrong is just how resilient this market truly is. Because look…interest rates are still brutal. Are they the 17-18% that people always point to and reminisce about? No, of course not. But watching a 10+ year stretch of rates hanging around 3% more than double in what felt like a hot minute with no real correction in pricing is rather impressive. Sure, there are some pockets that have gotten slightly weaker, but overall, the strength is undeniable.
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