2022

2022 MN Housing Inventory

2022 MN Real Estate outlook

Price
Beds
Baths
Save Search

THE housing market IN THE twin cities CONTINUES TO HEAT UP THE MINNEAPOLIS AREA REALTORS ARE OUT WITH THEIR 2022 OUTLOOK, AND THEY PREDICT THERE IS NO END IN SIGHT WHEN IT COMES TO STRONG COMPETITION AND THE RISING PRICE OF HOMES.

THE HEART OF THIS HOT housing market IS AN IMBALANCE IN SUPPLY AND DEMAND. YOU HAVE SO MANY PEOPLE LOOKING TO BUY RIGHT NOW, BUT NOT ENOUGH HOUSES ON THE MARKET. HERE’S A LOOK AT INVENTORY OVER THE LAST 15 YEARS, 2000 AND 7 2000 AND EIGHT TONS OF HOMES ON THE MARKET.

BUT INVENTORY DECREASES FROM THERE, REACHING ITS LOWEST POINT LAST YEAR. THAT TREND IS EXPECTED TO CONTINUE THIS YEAR, MAKING FOR AN EVEN MORE COMPETITIVE MARKET FOR BUYERS. WE’VE HAD MARKETS WHERE YOU’D BE LUCKY TO GET A FEW SHINES IN A MONTH AND WE HAVE WEEKENDS NOW OR WE MIGHT GET 40-SHOWINGS 50 SHOWINGS GARY MOSKOWITZ, A REALTOR, PART OF MINNEAPOLIS AREA REALTORS, SAYS HE THINKS SO MANY MINNESOTANS ARE LOOKING TO BUY HOMES RIGHT NOW.

BECAUSE OF LOW INTEREST RATES. IN THAT ALSO MAKES IT SO THAT MORE PEOPLE CAN QUALIFY, WHICH IS ABSOLUTELY A GOOD THING.

AH THE ONLY BAD THING ON THAT IS TRYING TO HAVE ENOUGH HOMES AVAILABLE. SO HE SAYS, HE PREDICTS PRICES OF HOMES WILL CONTINUE GOING UP THIS YEAR. AND IF YOU’RE LOOKING TO SELL ITS A GOOD TIME, JUST BE READY TO MOVE QUICKLY AND NAVIGATE AS MANY AS 15 TO 20 OFFERS ON YOUR HOME. IF YOU’RE LOOKING TO BUY, I DON’T RECOMMEND WAITING. I MEAN, YOU CAN SIT THERE AND WAIT.

THERE IS NOTHING TO INDICATE IN THE FUTURE THAT I HAVE SEEN THAT THE PRICES ARE GOING TO GO DOWN. HE ALSO RECOMMENDS BEING PRE APPROVED FOR A LOAN BEING FLEXIBLE ON CLOSING DATES AND ACTING QUICKLY. IF YOU SEE SOMETHING YOU LIKE BECAUSE COMPARED TO THE LAST FEW YEARS, HOUSES ARE FLYING OFF THE MARKET EVEN FASTER.

STILL THE SUPPLY AND DEMAND STILL FAVORS. SELLERS STILL HELPS WITH THE EQUITY, THEIR HOUSES JUST BECOMING WORTH MORE MONEY.

SO EVEN IF HOMEOWNERS ARE NOT IN THE MARKET OF BUYING AND SELLING RIGHT NOW,.

Read More: Sherburne County MN Housing Report

Compare listings

Compare