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

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

Fall Into a Season of Renewal

đź–¨ Print Article If your summer ending anything like mine, you too are welcoming earlier sunsets and cooler mornings. The kids back to school, busses on the road, leaves starting...

Weekly real estate market update 9/22/23 – should Baby Boomers buy or rent after they sell

đź–¨ Print Article The real estate market is holding steady… Buyers are still looking at houses to buy… New, pending and coming soon listings are on track with last year’s...

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.