Here we are late 2011 and I feel like the worst is finally behind us with bad real estate news. Minnesota Real Estate is strong!
This year has seen many lows but not all of them are bad;
- Low interest rates, we were down in the high 3% for weeks on a 30 year mortgage. That may never happen again.
- Low inventory, this is actually a good thing if it does not stay for too long. This means the market is starting to balance out. It is no longer a buyers market. In fact, many first time home buyers in MN are having a hard time finding a place they can actually buy.
- Lower unemployment rates, enough said on this one
Now that we are approaching the end of season, as us agents call it, we are getting a good feel of how 2011 was and how 2012 will start off. Come mid February when the market awakens from hibernation the trend we ended with in 2011 will hopefully continue for a great 2012.