Showings activity: Showing activity was 15.6% higher than last year with all but one out of nine ranges showing gains. The strongest gains were concentrated in the upper end where buyers are least sensitive to interest rates. Listings under $200K made up 10.3% of showings, listings between...
MINNEAPOLIS ( August 1 5 , 202 3 ) — As the Minnesota selling season cooled, competition for homes remained warm in some areas of the state . In July, closed sales fell statewide by 19% over the same period last year, with 6, 487 transactions . New...
MNR projects healthy spring sales season MINNEAPOLIS (April 11, 2023) —As spring began in Minnesota , the housing market was still locked in winter slumber. Closed sales across the state were down more than 20% over March 2022 while new listings declined nearly 25%. Due to slower...
Buyers take advantage of increased negotiating power MINNEAPOLIS (March 10, 2023) — With closed sales down more than 22% compared to February 2022 , higher interest rates continued making homebuyers wary. Following an encouraging descent to just over 6% in...
Mortgages look more attractive, but buyers remain wary MINNEAPOLIS ( February 10 , 202 3 ) — The housing market continued to normalize as closed sales for January declined 33% compared to the cooling, though still robust market of a year ago. New...
Inventory is up, but high interest rates continue to dampen activity MINNEAPOLIS (January 11, 2023) — In December, closed sales fell almost 39% across the state compared to a year ago, marking 12 straight months of declines. New listings were 17 % fewer than last year with 3,031 new ...
Higher interest rates create hesitancy in buyers and sellers MINNEAPOLIS (December 12, 2022) — The cooling trend in Minnesota’s housing market continued in November as closed sales fell 35.3% statewide compared to a year ago. New listings were down 17 % below last year with 4,735 ...
Buyers gain bargaining power as homes sit on market longer MINNEAPOLIS (November 10, 2022) — As the selling season slowed in October, closed sales slipped almost 31% compared to a year ago. New listings also decreased, falling 19% below last year with 6,883 properties coming on the...
Properties sitting longer as interest rates rise; bidding wars ease MINNEAPOLIS (October 12, 2022) — In September, a cooling trend continued as closed sales were down 18.2% compared to a year ago. New listings also decreased, slipping 17% below last year with 8,384 properties coming on the...
Interest rates and inflation give buyers pause MINNEAPOLIS (September 13, 2022) — In August, closed sales were down 17% compared to a year ago, with 8,256 transactions across the state. New listings followed the cooling trend, falling 17.9% compared to last August even as the total number...