May home sales were strong.  Chris Galler is President of Minnesota Realtors:

“I would say we are not only on fire right now we are in a drought. We just don’t have the inventory required to satisfy all of the home buyers that are looking at this point in time.”

So what’s behind this hot market:

“Well I think there is increased desire to purchase properties. A lot of people have saved money over the last year during the pandemic. They are looking at interest rates and saying wow these are really low-interest rates and looks like they are going to be going up.”

Galler says while May home sales were on fire — June is typically the busiest month for sales.