Market Update

Monthly updates and commentary on the real estate market.

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Market Update Post-Election, What’s Next for Real Estate? Election years often bring a bit of uncertainty to the real estate market. Many buyers and sellers tend to take a “wait and see” approach, watching for potential changes before making major decisions. Now that the election is behind us, attention is shifting to the factors that will shape the market moving forward—most notably, interest […]
Market Update Could we see our first rate cut? September’s Update It looks like we may soon see our first rate cut from the Federal Reserve since 2020. In an effort to combat inflation, the Fed has been steadily raising the federal funds rate, which caused mortgage interest rates to rise as well. We’ve seen mortgage rates climb from the high 2% range all the way […]
Market Update Upcoming Changes to the Real Estate Industry: NAR Settlement Update Starting on August 17th, new practices resulting from the National Association of Realtors (NAR) settlement will take effect. Here are the two main changes that you should be aware of: – A buyer’s agent’s compensation for selling a house listed on the Multiple Listing Service (MLS) will no longer be advertised on the MLS, the […]
Market Update The Future of Affordability In this month’s update, I want to address a topic that has been frequently discussed over the last couple of years: affordability. Home prices have been rising year over year for quite some time. This, combined with rising interest rates, has created an affordability issue for many homebuyers. Cities have attempted to combat this issue, […]
Market Update Along with the 3 Ls, should we be talking about the 3 Is? When talking about the value of real estate, It’s often said the 3 Ls are the largest factors determining value. The 3 Ls are location, location, location. This emphasizes the huge role location plays in the value of any piece of real estate. Being near a major city, on a lake, or close to popular […]
Market Update NAR Settlement The biggest headline in real estate broke in March. A settlement by the National Association of Realtors to settle several commission lawsuits was announced. This news was years in the making as several lawsuits passed through the court system. The largest change resulting from the settlement is that a buyer’s broker compensation will no longer […]
Market Update Rumors of Rate Cuts There’s been a lot of hype around rumored interest rate cuts over the last couple of months. Late last year, many news outlets were predicting up to 6 rate cuts by the federal reserve in 2024. As inflation continues to come down, many have been optimistic that the federal reserve would start to ease up […]
Market Update 2023 by the numbers The real estate market has experienced a lot of change over the last two years. Now that 2023 is behind us, here is a recap of what we saw in the twin cities real estate market: New Listings: Down 12.4% Closed Sales: Down 17.6% Median Days on Market: Up 28.6% to 18 Days Median Sales […]
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Market Update Statistics and Perspective: A real estate update In the words of Mark Twain, “Facts are a stubborn thing, but statistics are pliable.” Throughout this year, as we’ve seen the real estate market cool down, there have been many shocking headlines on the state of the real estate market. It seems many of these headlines are used as clickbait to get people to […]
Market Update As home purchases are slowing down another real estate sector is heating up. As home purchases are slowing down another real estate sector is heating up. Background: The monthly principal and interest portion of a house payment for a $300,000 home late in 2021 assuming a 3% interest rate and 5% down-payment would have been around $1,200/month. Today at a roughly 5% interest rate, that amount has gone […]
Market Update What does it mean? This time is different than the last time. I hope your summer has been going well! Here is your July update on the real estate market. The talk of the real estate market slowing down from the fast-paced market of the last couple years has been going on since the beginning of the year. Now in the last month or two, we have […]
Market Update What’s happening in the Real Estate market? A Little History: Over the last few years, the Twin Cities area has seen a significant increase in real estate market values. In May of 2020, the median sales price in the Twin Cities was $285,000. In May of 2022, the median sales price was $350,000. This is a significant increase that was driven by […]

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