Yes I live in the state (MN) that's #2 in home ownership.  Yes, I live in Stewartville, MN...near Rochester...home of one of the most stable real estate markets in the country. (A big thanks to Mayo Clinic and IBM!)  Yet even though I've been personally blessed in real estate because of where I live, that doesn't mean we haven't felt the crunch too.

Here's what I know:

• Inventory in our area has been steadily decreasing for 9 months
• Interest Rates have done some positive things:    April 15  5.875.....May 13 6.0.....June 11  6.375....July 22  6.75.....Sept 15  5.875
• 80% of home buyers today are going to purchase something of equal or greater value
• We are in one of the greatest buying opportunities in the last 40 years!

(Thanks to Coldwell Banker Burnet's Al Iverson for those stats.)

My point is, we can make the numbers say we're in a bad market or a good market--it all depends on your perspective.  A couple years ago, was the market good for buyers?  No way!  Home selection was low, people were in multiple offer situations, etc.  So why all the sudden are we looking at this market as horrific?  There's money to be made--it all depends on how we approach it.  So when someone asks you what you think of the real estate market, what do you say?