Weekly real estate market update 9/8/23 – home price forecasts revised, new listings ahead of last year

New listings are ahead of last year for the third week in a row. The first half of last year was still in the altered reality market of the Covid years… then started to fall after the market reacted to rising mortgage interest rates the last half of the year.

This is a short holiday week so it comes as no surprise that coming soon listings dropped as they became new listings. Pending sales and multiple offers both fell in tandem as people focused on the end of summer and back to school.

Showings were on track with last year.

Toward the end of last year there was talk of prices falling in 2023 and concerns about a repeat of the housing crash of 2008. But that proved to be wrong, and experts revised their price forecasts for 2023. See how much in the infographic below from our blog at Keeping Current Matters.

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

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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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