Challenges in the housing sector felt locally   News   Montevideo American News   Montevideo  MN

EXCERPT: “Montevideo’s housing market, like housing markets across the country, is facing many challenges, both for prospective home buyers and renters. A combination of low supply and high demand is driving prices for homes and rental units beyond the reach of a growing number of Americans. Throw in spiking construction costs and the outlook for affordable housing looks bleak. Gwen Nelson, realtor for Kuhlmann Realty, commented on the housing market in Montevideo. ‘It’s a real sellers market not only locally, but especially for realtors who are begging for inventory,’ she said. ‘There are only 41 listings on the market right now in Montevideo; that’s for all realtors. That’s the way it is all over right now. That’s why if you put your house on the market at the right price, it will sell.’ That being said, the lack of inventory makes the decision to sell a home a difficult one. Nelson said: ‘There are people who want to sell their homes, but they are afraid to put their house on the market. They are afraid that, if they sell their house, they may not be able to find another one.'” FULLSTORY: