Weekly real estate market update 11/18/22… fewest weekly new and coming soon listings in three years

YTD Market Stats-2022-11-18

New and pending listings are getting closer together as we move into holiday mode and fall into low numbers expected at the end of the year. New and coming soon listings are the lowest they have been since the end of 2019 and beginning of 2020.

Price changes are again higher than new listings this week, and multiple offers indicated in the MLS took a precipitous drop. However, not all offers with multiple offers are indicated in the MLS so numbers can be deceptive. I know I had a buyer in a multiple bid  situation this week with no mention of it in the MLS.

Weekly Market Stats 2022-11-18-v2a

Showings are right on track with last two years, but markedly lower… expect another holiday drop next week.

ShowingTime Stats-2022-11-16

High mortgage interest rates are causing some buyers to think more about inter-generational living, which also increased during the pandemic. It does have benefits… read more about it in the post below from our blog at Keeping Matters Current and in past posts about multi-generational living.

Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com


More People Are Finding the Benefits of Multigenerational Households Today | Simplifying The Market

More People Are Finding the Benefits of Multigenerational Households Today

If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years.

As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way.

Living with Loved Ones Could Help You Achieve Your Homeownership Goals

There are several reasons people choose to live in a multigenerational household, and for many, the arrangement is a personal one. But according to the Pew Research Center, the top reason people choose to live together today is financial.

A recent study from Freddie Mac also finds more people are choosing to buy a home together so they can save money in the homebuying process. As the study says:

“. . . an increasing percentage of young adult first-time homebuyers are relying on support from older generations, including their parents, to buy a home together.”

For these individuals, combining their resources can help them achieve their dream of buying and owning a home. By pooling their incomes together to make that purchase, they may be able to afford a home they couldn’t on their own.

Other Key Benefits of Multigenerational Living

Not to mention, living in a home with loved ones can have other benefits too, like giving you more quality time to spend together. Darla Mercado, Certified Financial Planner and Markets Editor for CNBC.com, explains how this living arrangement can help on a personal and financial level:

“Residing with relatives can offer advantages . . . you can pool multiple streams of income, for instance. And in households with young children, grandparents can pitch in with child care.”

If this sounds like a great option for you, it’s important to work with a trusted real estate professional to discuss your needs. They can help you navigate the process to find the right home for you and your loved ones.

Bottom Line

More people are discovering the benefits of multigenerational living. For the best information and help deciding what’s right for your personal situation, let’s connect and start the conversation today.

 

Written By

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.

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