How does Minneapolis compare to the US? | #minneapolis #RealEstate Market Update #maryschumann

Buying Real Estate
How does the Minneapolis real estate market compare to the national headlines? In a twist on a typical market update I looked at the “5 Ways Surging Mortgage Rates are Reshaping the Housing Market” here in the Twin Cities as compared to what is happening nationally. Living in the Midwest has some real upsides on affordability and if you’re moving from another state you may not feel the effects of the interest rates as much!

Please reach out if you have questions about Minnesota, Minneapolis/ St. Paul or anything real estate related – I’m always happy to help and love talking to people that find me on YouTube!

I’m a Realtor® at Keller Williams Realty Integrity Lakes
1350 Lagoon Ave. Suite 900, Minneapolis MN 55408
mschumann@kw.com
773.791.2015 mobile

https://www.npr.org/2023/08/25/1195419776/housing-prices-home-sales-mortgage-rates-construction-economy

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00:00 Introduction
01:14 effect on pmt sensitive buyers
01:35 What about SELLERS?
02:13 Relocation from other markets
03:24 How do we get more homes to buy?!?!
04:06 bidding wars even with fewer buyers? YES
04:35 Why are people being weird?
05:58 What is predicted for interest rates?
06:50 New construction in demand
07:23 where is new construction being built?
07:35 People are buyer smaller homes
09:18 give me a ringy-dingy (or an email)

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