I like to start the year by looking at data. Based on the numbers I have seen so far unless something changes, this year will be like last year. Like last year but with fewer home sales. Sales will fall off from 2017 because there are fewer home sellers. Buyers will need to watch the market and be ready to pounce when the right house comes on the market.
The average and median home prices have been rising. This is good news for homeowners who are not planning on buying. Average rents have been rising in St. Paul. The monthly cost of owning a home can be less than renting one. On a side by side comparison of renting Vs. owning a particular home, owning is going to cost less than renting.