Weekly real estate market update 2/17/23… more people are emotionally attached to their homes

New listings are increasing but still way below the last two years… and coming soon listings are also still weak. Note how strong they were through February both in January and February 2021-2022. Interesting how both new and coming soon listings dropped in March 2022 compared to 2021… it will be interesting to see what this year brings.

Multiple offers tracked by mention in the listing is also increasing, and I know there are many more that are never mentioned in the MLS listing. In some cases the multiple offers may not be mentioned in the MLS because another offer came in while preparing to review an offer in hand… I know that has happened with offers my clients have presented.

Living through the pandemic has made many people realize that home is more important that ever, and the percentage of homeowners who feel emotionally attached to their homes has grown significantly. Read the article below from our blog at Keeping Matters Current to find out how much.

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

Why It’s Easy To Fall in Love with Homeownership

No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours.

Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us.

As the most recent State of the American Homeowner from Unison puts it:

“. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.”

The same study from Unison notes:

  • 91% of homeowners say they feel secure, stable, or successful owning a home
  • 64% of American homeowners say living through a pandemic has made their home more important to them than ever

It’s no surprise this study also reveals that homeowners now love their homes even more as our attachments to them have grown:

The National Association of Realtors (NAR) also explains:

“In addition to tangible financial benefits, homeownership brings substantial social benefits for [households], communities, and the country as a whole.”

In other words, not only does owning a home build your net worth over time, but it also gives you and your loved ones a place to thrive. And by living near people with shared experiences, homeownership helps you connect with your community and contribute meaningfully.

Bottom Line

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, let me be the key to unlocking a home you can truly fall in love with.

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.

Related Posts

Weekly real estate market update 4/19/24… should you rent or buy right now?

đź–¨ Print Article New and coming soon listings increased a bit this week, but nothing dramatic. Still, everything is moving on an upward trajectory. Showings also ticked up a bit,...

Should I Wait for Mortgage Rates To Come Down Before I Move?

đź–¨ Print Article This is a question I hear a lot these days. Many buyers talk about waiting to buy, thinking interest rates will come down. Others have decided to...

Subscribe to Our Newsletter for Market Updates & Mid-Century Modern Listings

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!

Hidden

Blog Categories

Archives

Sharon and John Hensrud

About Us

The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.