Mn Elite Real Estate Information

01/07/2022

GOOD MORNING COFFEE CLUBBERS!
Every homeowner, home buyer, and Realtor is having the same conversation:
“ARE WE IN ANOTHER HOUSING BUBBLE?”
So, today while we get caffeinated - Let’s compare the 2000’s bubble to our current Twin Cities housing market.

Is The housing market in Minneapolis Minnesota in a bubble? Don't move to Minneapolis Minnesota without watching this video first!Contact Us:👇👇👇 📱Call ...

06/20/2018

Listen in to a group of Realtors talking, and you'll probably hear someone ask the question about "What's going on with this market"? Here's the summary of a conversation just like that held by the National Association of Real Estate Editors. Important to keep reading how our Twin Cities market is behaving to help predict what's coming down the line.

Last week, the National Association of Real Estate Editors (NAREE) held their 52nd Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called “Top Ten Issues Affecting Real Estate™,” given by Joseph Nahas, Jr., Chair of the Counselors of Real Esta

06/07/2018

Despite supply and demand rules of economics (See previous posts) Average sales prices for a Twin Cities home hit a new 10 year high in May, up by more than 8% compared to a year ago.

06/05/2018

Yesterday, we showed a chart on the TWIN CITIES REAL ESTATE markets supply being UP for the month of May. Today, we look at DEMAND (closed sales) and see that May home sales dropped to the second lowest May number in 5 years. It's too early to tell if the drop in sales is due to the April snow and low inventory, or a response to rising interest rates and rising home prices - but the next couple months will be VERY important to tell if this sellers market will continue.

06/04/2018

The SUPPLY of homes in the Twin City market continues to improve as the 9161 metro home owners added to the market was about 3% higher than the same time last year. Adding more supply to the the market will allow home buyers a breather from rapid price increases over the last number of years.

05/22/2018

While Supply/Demand dictate what's happening currently in the Minnesota Real Estate market, Rising Interest Rates is the scariest threat to the heavy "demand". Here's a great article explaining why!

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing

05/17/2018

Minnesota Home costs aren't only going up for home owners. Rental prices are also rising rapidly and continue to pose the idea that it's cheaper to own than it is to rent.

05/09/2018

After yesterday's post about Twin City Metro home prices reaching new high's, I had a number of people reach out and ask a repeat of the market we saw when the bubble burst. Here are 4 reasons why Today's Housing Market is NOT 2006 All over again!

With home prices rising again this year, some are concerned that we may be repeating the 2006 housing bubble that caused families so much pain when it collapsed. Today’s market is quite different than the bubble market of twelve years ago. There are four key metrics that explain why: Home Price

05/08/2018

The Twin Cities Real Estate market again saw average sales prices hit new high's in April, 2018 with the average sales price of $314,006 up 3% from a month ago, and 8% from a year ago (April, 2017). That's a lot of equity metro home owners are realizing.

05/04/2018

INTERACTIVE FRIDAY:
April numbers are in for TWIN CITIES Home Listings, and we failed again metro! 7% fewer homes hitting the market compared to a year ago - down from 7890 in April, 2017. We can blame one more month on that ridiculous weather we had, but Spring is here.... let's get some homes on the market. The buyers are looking!

05/02/2018

This chart is a little "geeky" but it shows the price gains by homes in specific price groups, and illustrates much of what we are seeing in the Minnesota market with the demand for the entry level homes pushing prices up more quickly than that of the higher priced move up homes.

04/27/2018

INTERACTIVE FRIDAY:
The TWIN CITIES Housing's "Months of Supply" has begun it's seasonal Spring climb up, currently at 1.6 months. We haven't seen 4 months of inventory since 2014. It will be interesting to see how many homes we get on the market this season!