06/16/2026
What Happened to the Spring Real Estate Market?
We have really been on a roller coaster, with regards the real estate market, this year so far with some surprises. For the last 12 months prior to January 1 the real estate market was trying to find a balance between buyers and sellers, slowly. It appeared on that date, that we were going to have a strong market. And it started out to be exactly that. Mortgage rates had dropped to just below 6% on 30 year mortgages and inventories of housing had started to increase.
It looked like we were headed for a strong market. But by March it had truly fizzled out. A big part of what caused this is that the Federal Reserve failed to lower the rates and they jumped back to about 6.5%. And guess what? The buyers responded, by jumping right back on the fence about purchasing. Now the market is not in free fall by any means. But it has thrown a wet blanket on the idea of a strong Spring market. In the 13 County market, Closed sales still showed a .6 percent increase over the last 12 months ending in April.
Right now, we are hoping for a more favorable climate from the Federal Reserve under its new Chairman. If you want to read more about this information I have posted part of a very good article by Eric Bramlett of Inman News on my website, MnHomesbyDave.com under the tab Real Estate News. The local market data is also available on the same sight. As always, contact me about any questions you may have.
www.MnHomesBydave.com
612-250-1400
