Posts with tag 'Minnesota'

The real estate market of 2023 has been facing a unique challenge - low inventory. This means there aren't enough homes for sale to meet the growing demand of buyers, which has only gotten worse during the craziness of 2020. While inventory has been moving upward since May 2022, the number of active home listings in November 2022 was still around 38% lower than the pre-2020 levels of November 2017-2019.

This trend has a significant impact on both buyers and sellers. For buyers, it means that the best homes will likely be snatched up fast. With most homes spending only 56 days on the market in November 2022, which is 18 days less than typical pre-2020 levels, you need to be on your toes when house hunting.

If you want to find a good home in this slim market, it's essential to sacrifice some wants for your must-haves. You may have to find the least expensive home in the best neighborhood you can afford and upgrade over time. You can also expand your search to find gems...

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