Real estate market update 7/10/2020… housing affordability index is high

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As expected, real estate market activity dropped over the July 4th holiday. This year followed the same trend as last year.

Buyers are taking advantage of the highest affordability since the housing crash. Affordability was high then because of foreclosure and short sale properties dominating the market at discount prices not seen before in the housing market. Affordability is high today because of historically low mortgage interest rates.

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Written By

Sharlene Hensrud

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

Our weekly HomesMSP Update includes current local market information and a curated list of mid-century modern properties for sale, plus posts from an inspector, a lender, a stager, info about neighborhoods, life in the Twin Cities… even recipes!