The Twin Cities real estate market saw a return to a more sustainable pace in 2024. New listings increased 8.6%, helping to ease the ongoing inventory shortage (though more supply is still needed). Housing prices have remained steady; the limited supply is preventing price dips, while higher interest rates are preventing prices from climbing too high.
Our outlook for 2025 is optimistic. Market experts are predicting that mortgage interest rates will continue on a bumpy path downwards towards the low 6% range by the end of the year. The pent-up demand for homes will likely drive strong activity in the spring market. Read more in our annual real estate outlook here.
