One of the most common questions I hear from home buyers is, "How much house can I actually afford?"The answer isn't always as simple as looking at the purchase price. While the home's price,
Flashback to 1995 in the Housing Market vs Today
Dated: February 6 2025
Views: 25
If one reminisces about 1995, one may remember their real estate office equipped with Windows 95. Fax machines were a staple in business communication, but electronic mail was slowly emerging as more common. VHS tapes were the most popular way to watch a movie, and CDs were becoming more common, replacing cassette tapes. Just 2% of home buyers looked for homes online in 1995 – compared to 100% last year.
So why the comparisons to 1995? At 4.06 million, the annual pace of 2024’s existing-home sales was the lowest number recorded since 1995, when it was 3.85 million. But, as clearly noted, the world was in a much different place. This blog post dives into the nearly 30-year comparison to see the changes and difficulties buyers faced last year.
In 1995, the population of the U.S. was 266.6 million, while in 2024, the population was 341.1 million—a difference of 74.5 million people. The reasons for the lower home sales figures are illuminated when looking at both housing inventory and affordability. In December 1995, 1.58 million single-family homes were available to purchase compared to December 2024, with just 1.00 million single-family homes. The months’ supply in 1995 was 4.8 months compared to just 3.7 months in 2024. While there has been an improvement in housing inventory since 2023, when the month’s supply was just 3.1 and the December single-family inventory was under 900,000, there is a long way to go to meet the current population demand.
Dan Hennen
With over 30 years of experience in the real estate industry, Dan Hennen has been a full-time agent since 1994, specializing in both buyers and sellers throughout the Twin Cities metro area. As a Minn....
Latest Blog Posts
Here's What You Should KnowIf you've been thinking about selling your home, you're probably asking the same question many homeowners are asking right now: Is this a good time to sell?The answer
Selling your home is exciting, but it can also be overwhelming. One of the most common questions I hear from homeowners is, "What should I do before putting my home on the market?"The good news is
As we look ahead to 2026, housing experts are increasingly aligned that the market is moving toward renewed opportunity. Easing mortgage rates, steady employment, and pent-up demand are expected to
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than REMAX Advantage Plus - Shakopee are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (little black
house) and detailed information about them includes the name of the listing brokers.
© 2026 Realtor Association of Southern Minnesota. All rights reserved. The data relating to real estate for sale on this limited electronic display comes in part from the Broker Reciprocity (sm) Program of the Realtor Association of Southern Minnesota Multiple Listing Service. Real estate listings held by brokerage firms other then REMAX Advantage Plus - Shakopee are marked with the Broker Reciprocity(sm) logo or the Broker Reciprocity(sm) thumbnail logo (a little black house) and detailed
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. Copyright ©2017 All rights reserved.
