MPLS Real Estate still shrugging off CV19. Will it crash???

[Austin Meimaridis]

the real estate market in the Minneapolis area has seen exponential growth since the quick recovery that took place in May. This anomaly has had local industry experts speculating a drop in activity since July, but sure enough the number of total transactions done in September resembles the amount of activity that tool place in April 2019. With list prices as high as they have ever been, and inventory as low as it is... how long can this high-unemployment consumer market push off any type of market softening? I have heard experts on the BPP talk about a market sell-off, meaning that any property owner who does not plan on owning that home for the next 10+ years would take advantage of this incredible sellers market, causing an influx of new listings for sale. I would speculate this sell off will only realistically take place once it may be too late. What does that mean? Well people typically sell when they are fearful. So if this election, or the high amounts of unemployment/forbearance cut the amount of buyers in the market, then home prices will likely see a softening. And if sellers begin the for-mentioned sell-off, we could see a crazy, crazy market shift. With that said, the Minneapolis market still holds to all the indicators supporting continuous growth, making it an incredibly stable place for buy and hold investing.