Every once in a while, it’s interesting to check in on the progress of St. Cloud’s real estatedoppelganger, the real estate metaverse, to see if it is becoming more popular (hence,).
St. Cloud Buyers and Sellers Puzzle Over Mislabeled ‘Declines’
Dated: August 1 2022
For St. Cloud home sellers and buyers puzzling over whether now is the right time to enter the local
market, last week’s helping of national residential real estate news was difficult to assimilate—much less
to provide coherent ‘buy’ or ‘sell’ signals. That’s what happens when median sale prices increase by more
than 13% and sell in the shortest number of Days On Market ever, yet most press reports headline
residential sales “declines.”
“Declines” like that are hard to digest in any case. When you’re trying to make an already
complicated decision like buying or selling St. Cloud houses, they’re less than helpful.
Last year the situation was already complicated enough. Prudent St. Cloud buyers were faced with
the brain-teasing situation of record high home prices that were partially offset by record low home loan
offerings. What were thrift-minded buyers to do? What if a price reversal was possible?
Buyers and sellers now have the additional factor of today’s stormy economic picture—both
national and international—to further complicate the paralysis-inducing timing issue. As realtor.com
summarized last week, “No one wants to buy at the top of the market, but it’s not clear yet whether the
market has peaked.” Although the national press was technically correct in describing “dropping real
estate sales,” they often failed to fill in some relevant details. If it’s true that some sellers in some markets
are “lowering their asking prices,” such declines may only be reversals from newly over-escalated asking
In other words, ‘declines’ that are actually ‘increases.’
And in fact, June’s existing-home sales (that were breathlessly described as having declined “for the
fifth straight month”) averaged median sale prices that were 13.4% higher than the previous June’s.
Evidently, a great number of buyers surveyed the overall direction of everything and decided that today’s
offerings will look like decent bargains—especially compared with what is to come (possibly even soon
St. Cloud buyers do have one compelling fact that has guided decisions for many past generations:
it’s the evident value of owning your home over the long term. Call me for current information to help
you appraise your next course of action.
Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:
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Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Years of purchasing, developing, and managing several rental properties, while assisting friends & cli....
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