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Real Estate Supply and Demand.
Feb 3, 2023
Minneapolis, MN: The current inventory of homes for sale remains at low levels, yet with higher interest rates and economic uncertainty, demand and price growth has slowed, but has not stopped.
BASIC MARKET FORCES AT WORK
Buyers previously stuck in bidding wars over asking price and sometimes against dozens of competing offers now suddenly find themselves in a more historically normal atmosphere.
Sellers may now again be more inclined to negotiate and allow for traditional buyer protections, like home inspections, and common items like seller paid closing costs, and common contingencies, like you have to sell your existing home.
Great news for first time home buyers, is that lower down payment loans, and even buyers needing down payment assistance have a great chance to make a successful offer again.
Ready to find a home in today’s market? Our mortgage experts here at Cambria Mortgage, the Joe Metzler team are happy to provide a no obligation application review, along with an initial softpull credit report, which has no impact on your credit score.
We lend in MN, IA, ND, SD, and WI. Call (651) 552-3681, or Apply Online Today
(651) 552-3681
Serving MN WI IA ND SD
Cambria Licensed Mortgage Loan Officer serving home owners, home buyers and residential real estate investors. Equal Housing Lender, Cambria Mortgage NMLS #322798. I am a licensed mortgage originator, NMLS #274132, and am licensed to originate mortgage loans in: MN, WI, IA, ND, and SD. Lending services may be provided in certain states by Cambria Mortgage NMLS #322798. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 2023 Joe Metzler
