
It's a mixed bag - but mostly positive - as local real estate experts look back on 2018.
The best news: Inventory was up by the end of the year, and it's expected to continue to increase in 2019, reversing three years of declines when there weren't enough homes on the market for all of the buyers who were looking.
"We expect to end 2019 with a five to seven percent increase in overall inventory. Not huge numbers, but anything moving in the positive is moving in the right direction right now," said Minneapolis Area Association of Realtors President Todd Urbanski.
At the same time, home prices reached record highs, pricing some interested buyers out of the market. Still, Urbanski says with a median price of $165,000, we don't have as big of an affordability issue as other comparable cities.
"If I look at a city like Denver that is similar to us, they're up just under $500,000. If you look at Portland and Seattle, they're up in the high 4's...I think Seattle's actually closer to 6," said Urbanski.
Urbanski says prices should stabilize if inventory levels do indeed grow as predicted.
"Despite some manageable headwinds, homeownership and real estate is still a compelling investment for Minnesota."
For a complete look at 2018's real estate trends in the Twin Cities, click here.