Home sales dipped 20% in Fargo-Moorhead. Three experts weigh in on what that means.

πŸ”Š We talked to three area real estate professionals to get a detailed look at the F-M housing market.

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Listen: F-M real estate professionals weigh in on the F-M housing market

FARGO β€” Even Amber Carlton, president of the Fargo-Moorhead Area Association of Realtors, admitted she was a bit taken aback by recent data from her organization which showed metro home sales fell roughly 20% on a year-over-year basis.

The drop-off came not long after the local market ran hot following the onset of the COVID-19 pandemic. The pandemic flooded the market with home buyers β€” be it apartment dwellers looking to upgrade or existing homeowners who realized their current space no longer suited their needs.

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The Fargo-Moorhead Area Association of Realtors recently reported that the number of homes sold in the area fell 20% year-over-year. Is it a one-off or part of a larger trend?

Data from the association only further drives home the point. In 2020, 4,843 homes were sold in the metro area, 799 more than in 2019. Those homes combined to sell for well north of $1.2 billion, $268 million more than 2019.

After a swift rise, Carlton explained the recent drop off shows that the market is cooling off and returning to pre-pandemic levels. David Reid, president of the Home Builders Association of Fargo-Moorhead, and West Fargo city assessor Nick Lee shared similar observations on the local housing market.

With the market’s recent trends pairing with talks of a recession in 2023, thoughts of the 2008 housing crash and Great Recession provide recent historical context. However, Carlton, Reid and Lee all concurred that the Fargo-Moorhead area is equipped to handle whatever conditions will arise in 2023 and continue climbing. Read our full story to learn more.

Thomas Evanella is a reporter for The Forum. He's worked for The Forum for over three years, primarily reporting on business news. He's also the host of the InForum Business Beat podcast, which can be streamed at or wherever you listen to your podcasts. Reach him at or by calling 701-241-5518. Follow him on Twitter @ThomasEvanella.
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