Twin Cities Real Estate Market Update August 2022

We are seeing a normalization in our market. What we experienced in the latter half of 2020 through the beginning of 2022 was anything but normal for our real estate market. Extremely low interest rates combined with extremely low inventory drove appreciation at record paces, but no more. Rates have moved back up, inventory is moving up, and days on market are going up too. However, home prices are still moving up, just not as quickly. Everything is lining up to be more on pace with a more normal market like we saw in 2017 – 2019.

All real estate is local, reach out if you have any questions about the condition in your neighborhood. Myra Jensen at BRIX Real Estate