The latest real estate industry numbers show the Minnesota housing market is still struggling, but it is doing better than the nation as a whole.
Chris Galler, with the Minnesota Association of Realtors, says home sales values have been falling and may stay down for a while. However, Galler says the new year may start to bring some relief.
“I think December and January are going to be difficult months.”Chris Galler, Minnesota Association of Realtors
"I think December and January are going to be difficult months," says Galler. "I think we may not flatten out yet, but we're getting close to that point, and what we look for is three months of level, if it's up 1 or 2 percent or down 1 or 2 percent, then at least we're starting to get to a level ground."
Galler says prospective buyers are seeing some good values in the housing market. And he says it appears interest rates have fallen as far as they are likely to fall in the current economic climate.