In July 2023 we saw home prices rise in spite of higher interest rates. The demand for housing remains strong and at the same time the supply remains low as homeowners are reluctant to move and give up those low interest rate mortgages.
It still takes less than a month to get an offer on a house. This is a great market for home sellers who are in a hurry. 🙂
This is also a great time to sell a house and buy a condo in downtown St. Paul where sale prices are lower and the inventory of homes for sale is higher.
The numbers used to make the chart were extracted from the NorthstarMLS. The data is considered reliable but is not guaranteed. There are few guarantees in life. I should have more numbers this week at they are reported by various Realtor associations and government entities. Happy Monday!
