Melissa's Blog Content

 🏡 Unlocking Opportunities: Navigating the Real Estate Market in May 2023 📊

 Are you curious about the latest trends and insights in the real estate market? In this blog, we'll delve into the monthly indicators for May 2023, as provided by Minneapolis Area REALTORS®. Brace yourself for a comprehensive overview that will help you make informed decisions in today's dynamic housing landscape. Let's dive into the numbers and unlock the potential opportunities! 💼

I know right now there is uncertainty in the world and everyone has their beliefs and their forecast for the future of real estate. I say if you want real answers, go straight to the source!

 The two graphs below (Info from FRED Economic Data) show our recessions over the last 55 years and our housing price Index. As you read each graph you can see that the only time we ever had home prices drop during a recession was our last one.

Should You Buy a Home with Inflation This High?

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now?

Greg McBride, Chief Financial Analyst at Bankrate, explains how inflation is affecting the housing market:

What’s Causing Ongoing Home Price Appreciation?

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall tremndously. 

Not every market is the same and we are seeing some pockets where prices are coming down slightly in Minnesota, all the while others are still flurishing.