You are here:  Home  >  Real Estate  >  Current Article

Buying a home will be harder than ever this spring

Posted by   /  April 2, 2017  /  No Comments

    Print       Email

With tight inventory and rising prices and mortgage rates, this season will be the toughest for buyers in a decade

By Laura Kusisto | The Wall Street Journal

Robin Manthie and her husband have been looking for their first home in Minneapolis since last May. They thought this spring would bring a flood of inventory, making their search easier. But by most measures it is getting tougher.

The inventory of homes for sale in Minneapolis dropped by about 25% in February compared with a year earlier, while the median sale price rose by 7.6% to $223,000, according to the Minneapolis Area Association of Realtors. That’s on par with the national median home price of $228,400. The average number of days homes in the area are spending on the market is at a 10-year low of 81 days so far this year.



    Print       Email
  • Published: 11 months ago on April 2, 2017
  • Posted by:
  • Last Modified: April 2, 2017 @ 9:17 am
  • Filed Under: Real Estate

Leave a Reply

Your email address will not be published. Required fields are marked *

You might also like...

McCarthy breaks ground on Mirabella at ASU

Read More →