Grant Farnum's Blog
Insights and updates from Grant, REALTOR® at Pederson Realty.
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Why Are Fewer Twin Cities Buyers Looking at Homes Under $400,000?
Twin Cities home showings are down, but the slowdown looks very different depending on price. With mortgage rates back above 7%, the latest data raise an important question: **Are affordability pressures affecting some buyers much more than others?** Here’s what the numbers tell us, what they don’t, and what it could mean if you’re buying or selling.
Is the Twin Cities Housing Market Slowing Down? It Depends on Which Market You Mean.
“Your leverage isn't determined by the average Twin Cities home. It's determined by the competition surrounding the house you're actually considering.” “The market matters. Your market matters more.”
Twin Cities Buyers Have More Leverage. So Why Doesn't Buying a Home Feel More Affordable?
Negotiating leverage is what you may be able to get from the seller. Purchasing power is how much house your money can comfortably buy. ____ Is the Twin Cities housing market becoming a buyer's market? I don't think "buyer's market" or "seller's market" is specific enough to be particularly useful right now.