The Covid pandemic disrupted the economy in historic ways, and reshaped real estate demand and trends for the foreseeable future. Huge increases in homeownership demand, coupled with record low supply, gave way to quickly rising prices and a flight out of major cities to suburbs and ex-suburbs. And in 2022, record low interest rates changed to record high interest rates in months. Now that the dust has settled, what can we expect for the 2023 housing market? Take a look at this exclusive video from economist Lawrence Yun with the National Association of Realtors as he reviews the Twin Cities housing market, and makes some strong predictions about where the market will go in 2023 and beyond.
Wherever the market ends up, we know that our proven experience through past market cycles (including the 2008 crash) will benefit our customers and clients, and allow them to maximize the opportunities under current market conditions. Check out our Buyer & Seller Services for more information on how we can help you or a loved one!