Welcome Spring! I don't know about you, but I'm super excited to break out the grill and patio furniture! I love watching my perrenials, shrubs and trees come back to life and seeing our world turn green again. If you're dreaming of a new backyard, let's chat, spring is a great time to buy or sell a home!

2023 FIRST QUARTER MARKET UPDATE
2022 VS. 2023 YEAR-OVER-YEAR COMPARISON

2023 First Quarter Real Estate Insights

• As Realtors, we have been asked if there is going to be a housing crash like 2008/2009 and the answer is no. We have a much different economy in 2023 compared to 2008. First off, the unemployment rate remains low at 3.6%; in contrast to 2009 when it was at as high as 9.9%. Secondly, US households are carrying less debt and the mortgage regulations made since 2008 have tightened up lending practices so another credit crash cannot happen. Lastly, buyer demand is still high and housing inventory remains low. 
• The Fargo Moorhead market area has started out the first quarter of 2023 with 42% more inventory than in the first quarter of 2022, which means more options for buyers. With spring finally showing up, we expect more listings to come on the market in the coming weeks. Mortgage rates remain in the low-to-mid 6% range and the average sales price has increased 2% over 2022.
• The seller’s market is expected to continue, just at a less frenzied pace. Inventory is still low in our market so if you’re thinking of selling, there are plenty of buyers looking to get out of rentals and into home ownership!

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NATIONAL GARDENING DAY

April 14th was National Gardening Day! For me, gardening is a family affair! It's a great way to spend quality time with my sister and nephew. From planting to weeding to canning, we always have a blast!

FEATURED LISTINGS

102 Lindsey Ct Mapleton $74,500	4430 12th St W West Fargo $379,900	7122 61sst Ave S Horace $1,350,000

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This newsletter is for informational purposes only and should not be substituted for legal or financial advice. If you are working with another REALTOR®, this is not a solicitation.