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In the last 10 years, the real estate market has become more dynamic than ever before. Keeping up with current sale and purchase trends is vital if you want to get a good deal when you buy or sell.  EXIT Realty Upper Midwest,has 28 locally owned brokerages  in Iowa,  Minnesota, and South Dakota they  take pride in staying on the cutting edge of the real estate industry. Here’s their insider guide to real estate trends you’ll be seeing in the next year or two:

  • More Traditional Buyers: Following the housing crash in 2008, the majority of people who were buying foreclosed homes were investors. This meant that your average person looking to purchase a home had to compete with cutthroat professional flippers and landlords. Since the market has stabilized, it is much easier for traditional buyers to purchase homes.
  • Millennials Beginning To Buy: A combination of soaring rent prices and the natural inclination to settle down is encouraging millennials to put down roots by buying homes. Unlike previous generations, millennials appear to favor walkable urban neighborhoods over larger homes in the suburbs. If you’re looking to sell your city home for top dollar, now is a great time!
  • Low Mortgage Rates But Higher Home Prices: The combination of low mortgage rates and climbing home prices is good news for buyers and sellers! Sellers can expect a fair return on their homes in the next year or two, and mortgages are still relatively affordable for those looking to buy.

Whether you’re looking to buy a forever home for your family, need to downsize and sell, or want to get into real estate investing, one thing is for sure: The real estate market is always changing, and it pays to have a professional help you through the process. Hiring real estate agents is easy when you work with EXIT Realty Upper Midwest. Just give them a call at (612) 414-4022 or visit them online now to get started! 

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