The interest rates nationally have been on a steady increase and the St. Cloud area housing market is feeling the affects. Craig Ehrlichman from Premier Real Estate Services joined me on WJON.
The housing market has been a sellers market for more than a year. St. Cloud State Economist and Dean, School of Public Affairs King Banaian joined me on WJON this week. He says housing prices remain high locally and it continues to be a seller's market.
Demand continued to outpace the available housing supply in July as new listings declined -0.2% and closed sales fell -8.7% compared to 2020 statewide.