Real estate outlook in 2023... Minnesota

2023 Real Estate Market Predictions! We can't believe that 2022 is almost over and we are ready for 2023! But what will the new year mean for the Twin Cities real estate market? Joe talks about what his predictions for 2023 are including interest rates, Twin Cities inventory, and home prices.
Knowing the difference between your local real estate market and the national market will help you to make a better home buying, or home selling decision when the time is right for you. We can't stress enough that real estate is local, and working with and learning from a professional can have a major impact on your life and goals!
Interested in learning more?
Joe Schwartzbauer
612-743-0274
[e-mail]
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[@elaishh3533]

Mortgage applications down 90%….. 245,000 homes purchased in 2022 are already underwater. Next year will NOT be a great time to buy, unless you want to lose your down payment within 6 months of buying and be paying on a home with negative equity.

[@MN_Best_Real_Estate]

Everyone has their opinion. The pent up demand from buyers right now is incredibly high. Now that rates are coming down and still being in a very low inventory market, supply and demand economics take hold and won’t allow prices to decline. I could argue about this all day and back it all up with data, but it sounds like you already have your opinion