I get asked this question all the time. “is this a good time to sell my house?” The answer is yes. Homes are selling despite the high-interest rates (over 6.5%). We are seeing cash buyers and buyers who are using home loans.
Houses are selling at a brisk pace in St. Paul. On average sellers are getting more than the asking price and multiple offers are common. Houses are on the market for an average of 10 to 12 days on market.
The question that is harder to answer is: “Is this a good time to buy a house?” For people who like to pay interest and don’t mind the debt, I would say it is a no-brainer.
If the alternative is renting, on the one hand, rents are high, on the other hand, renters have more flexibility.
