Experts weigh in on Minnesota real estate in 2023
Experts weigh in on Minnesota real estate in 2023 The experts say homes sales in the Twin Cities are expected to be about the same as 2022, this is regardless of higher interest rates. It is predicted home sales will slow more nationally then in Minnesota. New construction will feel the biggest impact. Builders started too many developments and have some spec homes yet to sell. Look for buying incentives like discounted interest rates, seller paid closing costs and other extras like them finishing the basements. Realtor.com predicts The Twin Cities metro area will be down .8% for sales in 2023 compared to 14% nationwide. Listings will continue to be at a short supply in 2023, since we currently only have a two-month supply of homes for sale. Prices in the Twin Cities will continue to rise (the doomsayers are clueless – our economy is based on supply and demand). Will not see the bidding...