Here is a chart that shows how many home sales there were in St. Paul, Minnesota, in each of the last five years. Home sales hit a record low for the entire region.
The main reason for fewer home sales is that fewer homeowners wanted to sell. We can blame higher mortgage rates. This phenomenon is nationwide, more or less. I think we will see more home sales in 2024 than we did in 2023.
The data used to create the graph was extracted from the NorthstarMLS which is deemed reliable but isn’t guaranteed and doesn’t come with a report writer.
