2024 Real Estate Shift -Show #6

by Chuck Carstensen

New Homes Peak at 30% of Inventory for 2023

Welcome to the Real Estate Shift Show where we update you more frequently on What's Happening In Minnesota Real Estate with quick real estate tips, updates, and more!

In 2023 across the nation 30% of the inventory was new homes. That number is two times higher than normal. Single Family home and overall construction spending was up year over year as of late 2023 as well. So new home builders are doing well. One of the reasons is the lack of supply...the inventory shortage of homes that is still a challenge. Builders are likely to still do well in 2024 due to the inventory shortage, but we should see a higher percentage of existing homes listed in 2024.

You can catch up on prior real estate updates and Real Estate Shift recordings by clicking here!

Please feel free to reach out with any of your real estate questions or concerns. We strive to be the best real estate team in the area and would be happy to assist you with your real estate needs. Chuck Carstensen Re/Max Results 612-290-3809.