Infographic courtesy of NAR:  Existing-Home Sales Backpedal, Decrease 0.4 Percent in May​

“The decline in number of sales for the third straight month doesn’t surprise me,” says Brady Kroll of Edina Realty.
“There are a lot of would-be buyers out there who simply can’t afford what they would like to buy even though they’re sitting on a bunch of equity in their current home.  This leads to them not buying anything and in turn not selling their current property, maintaining the status quo of low inventory and low number of sales.”

 

Interested in a more focused update on real estate in the Twin Cities area?

Click here to check out the June update. 

Want some further insight into the market in your area, or perhaps in the areas where you’re looking to buy?

Get in touch with Brady Kroll.

 

About the author

Brady Kroll

Realtor

A Minnesota native with 13+ years of real estate experience, specializing in Minneapolis and near suburbs. I am a member of the Chairman’s Circle, Edina Realty’s highest award for sales volume. I have been a Downtown Minneapolis resident since 2004 where I live with my wife and 2 children.

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