Are Home Prices Finally Going to Crash in Minnesota?

By Mark Callender

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

Are home prices finally going to crash? That’s the question I’m getting all the time right now, from buyers and sellers both. Buyers are asking whether they should wait for interest rates to drop. Sellers are asking whether they should get their house on the market this year rather than next, in case something is coming. It’s why I’m talking about this again.

Real estate isn’t one market. It’s regional. What’s happening in Minnesota isn’t necessarily what’s happening in Florida or Texas or Arizona, and that difference is real. The latest national numbers show it plainly, with sales holding steady in one region while they fell in the other three and prices still rising overall. One national headline can’t describe four different regions at once, let alone your part of the Twin Cities.

Ask yourself where you heard it. When clients call and tell me they heard the market is going to crash, my first question is always where that information came from. Usually the answer is the national news, whether that’s CNN or Fox or whoever else. My advice is to listen to your local news, see what they’re actually saying, and then call me, because the picture is completely different from Minnesota to Florida. Here in Minnesota, it can change from city to city and from neighborhood to neighborhood.

Get your information from people working it every day. Whether that’s another agent or me you’re already working with, talk to them. They can get you real month-by-month statistics over the course of the year and show you what’s actually happening. I can get those numbers to you within minutes, because we keep them close at hand through the Minnesota Association of Realtors. That’s a very different thing thana headline written for the whole country.

So if you’re a buyer trying to decide whether to move now or wait on rates, or a seller weighing whether this is the right year to list, please reach out before you let the national news decide for you. Every market is different, every city is different, and every neighborhood is different. Call or text me at 612-961-9448, email me at mark@markcallenderhomes.com, or visit callenderhometeam.results.net. Use my resources, and let’s look at the numbers for your actual neighborhood.