It definitely seems that in real estate this year.The year started out so promising with mortgage interest rates dipping below 6% and inventories of housing on a slow but steady increase.
How we got on this real estate roller coaster
Dated: July 16 2026
Views: 44
It definitely seems that in real estate this year.
The year started out so promising with mortgage interest rates dipping below 6% and inventories of housing on a slow but steady increase. These are 2 factors which had been plaguing the industry for about 3 years. Then the Federal Reserve, under Jerome Powell's leadership. got spooked by the conflict in Iran and failed to let interest rates seek their own market levels. The result was mortgage interest rates jumped back to 6 1/2% to 7% and buyers jumped right back on the fence where they had been for 3 years. But there is some recent good news. In the last 2 months in our local market, the 13 county metro, new listings are up 3%, closed sales are up .5%, the median price is up 2.1% and the price per square foot is up 2.6%. All of the previous numbers are for the 12 months ending in May. I think a new chairman will be a big help to real estate and I believe that an end to the Iranian conflict will portend well for the second half of the year. I also think that the Housing Affordability Act, which went into effect on July 11th will provide some very good incentives for 1st time buyers.
If you want more information on current real estate economics, I have posted 2 great articles on my website MnHomesbyDave.com under the Real Estate News tab or reach out to me to discuss how this may effect your situation. Thanks
Dave and Ann Feerhusen
"Experience you can trust!" I am very fortunate, along with my partner and wife, Ann, to have spent my career of 41+ years helping people successfully market their homes in the Twin Cities. We have ha....
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