Stillwater MN 2023 Housing Market Prediction has the potential to have to have high home sale appreciation based on my research of key indicators. In 4th quarter of 2022 the GDP, the CPI index, and the PCE index started trending positively which drove long-term mortgage interest rates to drop approximately 1 full percentage point down to approximately 6.2% to 6.5%.
Over a rolling 12-month period through November 2022 my research shows the Stillwater housing inventory of new listings and closed sales to be significantly lower, but the median sale price appreciated 5.1%, while the average sale price appreciated 10.5%. Inflation is supposed to drop at the end of 2023 significantly and drop down somewhere close to 3.0%. If true, it will have a big impact on mortgage interest rates dropping. Lower mortgage interest rates will cause greater upward pressure with demand, which would increase home sale appreciation. I anticipate the 2023 Stillwater MN housing market to remain fairly similar to the 2022 housing market with the exception home appreciation may increase.
Contact John & Becky Durham at 651-231-2191