MINNEAPOLIS (WCCO) – Local real estate analysts are keeping a close eye on the highly-anticipated spring housing market. The spring market begins to hit its stride in March and this year is expected to be no different.
But there’s one persistent problem real estate agencies would like to see go away – a serious shortage of homes on the market compared to all of the buyers who are interested.
University of St. Thomas’ Director of Real Estate Programs Herb Tousley said the inventory problem could have bigger implications down the road.
Tousley said the big question is whether or not there will be enough homes coming up for sale this spring to keep the market in balance. Or enough homes to prevent first-time and move-up buyers from being priced out of the market.