Theis: Lower Interest Rates Good News for Minnesota’s Housing Market

According to Minnesota Realtors President Geri Theis of Redwood Falls, the market for prospective homebuyers appears to be improving in Minnesota, with interest rates dropping and more homes on the market.

She added, “With more inventory, we are seeing more buyers come out, and hopefully in 2024 (will) be able to see them be able to make some offers with inspection contingencies and give ’em a little more confidence moving forward.” A low supply on the market forced more buyers to purchase homes “as is.”

Theis says it’s still a great time to sell because an undersupply of houses on the market persists, which keeps prices up.