Episode 73: Fall Real Estate Market Update

<p>Alright friends, as much as we love the State Fair here in Minnesota it’s also sort of the unofficial end to summer. Not sure about anyone else, but we are still over here wondering where the summer went! Time really seemed to fly by this year and we’re still trying to squeeze in some of our favorite summer things. Change of seasons also tends to mean a shift in the real estate market, but we’ve seen a little less of that in recent years here in Minnesota. The real estate market has cooled slightly, but we are still experiencing a lot of buyer demand in spite of the rising mortgage interest rates. When you couple that with rental prices and rental demand being extremely high there are still not a lot of signs that we are headed for a major downturn. In fact it still looks far more likely that we will see home prices continue to rise. We know a possible recession is still being thrown around, and understand some of the fears around that, but the market conditions in real estate are not setting up for a major fall. We still have buyer demand, sellers are sitting on equity, and there is not enough supply in a lot of areas. This week’s show is going to break it all down, update you on the facts and figures and make sure you’ve got all the info you need to be an educated buyer, seller or Realtor. Let’s dive in!</p>