March 7, 2017
Spring Market Update
Not surprisingly, the millennials and boomers are predicted to dominate the spring market. These two massive demographic groups are expected to fuel the demand for the market for the next decade in fact. The suburbs will make a comeback for these groups, however Midwestern cities are still popular for millennials. With fewer homes on the market, the market is expected to be fast paced. Inventory is down an average of 11 percent in the top 100 metro markets and is predicted to stay low. Homes are selling 14 percent faster than last year’s market. The lake home market is expected to boom as warmer weather approaches. As prices rise on metro lakes, young buyers may head up to the cities and rent near the coveted Minneapolis chains of lakes to have their own piece of lakeshore lifestyle.