Realtor Nanci Anderson
Not many of us want to look in the rearview mirror on 2020 – so many ups and downs across the globe. Even in the Twin Cities real estate market, it was full of ups and downs. This graphic gives you a quick look.
What Made 2020 a Roller Coaster?
Buyers were jumping in....!
- Record low-interest rates – still under 3% from many lenders
- Work / Home balance was challenging – need more space and dedicated workspace
- First time home buyers wanted to get out of rising rents
Sellers were making cheddar…..!
- Median home sale price rose 8.9% - record low inventory with strong buyer demand drive home prices higher
- More time on their hands, able to make home improvements that attracted higher sale…