October home sales in Minnesota were 16 percent lower than the same month in 2020, which was part of a “banner” fall-into-winter season for real estate. But despite the return to a more typical seasonal slowdown, Chris Galler (GAL-er) with the industry group Minnesota Realtors says:
“Even through the winter months we’re anticipating that there’ll be brisk sales, compared to what we would usually have at this time of the year.”
Galler says there are still problems because the inventory of homes on the market can’t meet buyer demand. He says employment is strong and wages are up — but the “big wild card” is whether the Federal Reserve will increase interest rates in a time of inflation.