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Builders adapt to evolving housing market
The conversation regarding the housing market is largely centered around one factor: mortgage rates. The Federal Reserve started hiking rates last year in an attempt to tamp down on growing inflation. Since then, several increases in rates have led to mortgage rates jumping to over 7%. Consequently, the housing market has come to a standoff… Read more
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The Parade of Homes announces collaboration with Bauhaus Brew Labs
In honor of its 75th anniversary, the Parade of Homes announced this week a partnership with Bauhaus Brew Labs to craft a signature brew. “Ope’n Haus” will be a limited edition hazy pale ale, created exclusively for this milestone anniversary. It offers a blend of floral and tropical flavors, with hints of orange and clementine.… Read more
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Gen Z: The future of homeownership
Keep your eye out: Gen Z is on the hunt for homes. Born between 1997 and 2012, many Gen Zers are beginning to graduate college and join the workforce. With this comes the desire to settle down in a place all their own, without having to deal with landlords and monthly rent. With pandemic graduations,… Read more
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10th annual Artisan Home Tour kicks off
Doors to some of the most exquisite homes across the Twin Cities opened to the public this weekend as part of the Summer Artisan Home Tour. This summer’s event also marks the 10th year since its inception in 2014. This summer’s tour features 16 new homes and seven high-end remodeling projects. Tourgoers can meet and… Read more
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Bloomington passes zoning reform proposal
The city looks to its past as a framework for its future At its May 22 meeting, the Bloomington City Council voted 5-2 to adopt its zoning reform proposal. The city’s new zoning controls include a reduction in lot size, a 60-foot-lot-width minimum and increased ability and process for lot splits and two-family dwellings. During a… Read more
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Report showcases trends in new construction buyers’ habits
Zillow’s 2023 New Construction Consumer Housing Trends Report delves into the latest trends and insights shaping the new construction homebuyer industry As the housing market continues to evolve and adapt to changing consumer demands, Zillow has released its 2023 New Construction Consumer Housing Trends Report. The report delves into the latest trends and insights shaping… Read more
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“Ope’n Haus” officially launches at Bauhaus Brew Labs
On September 7, the Parade of Homes hosted their own launch party to celebrate their brand-new Bauhaus brew and their 75th anniversary. Read more
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Homebuilder confidence falls amidst rising mortgage rates
Builder confidence is falling, and the housing market is beginning to reflect it. In August, builder confidence fell 6 points, followed by another 5-point drop in September. Read more
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In the dirt: updates from around the industry
Get the latest updates on what’s happening in the construction and development world both locally and nationally. Development proposal revised in Eagan Partners Enclave Cos., Pulte Homes and Lifestyle Communities proposed their revised plan to the Eagan City Council for a 482-unit development on a 34.5-acre site in July. According to a city staff report,… Read more
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More affordable housing markets among the hottest in the U.S.
While home prices dipped nationwide in June, the nation’s hottest housing markets all saw modest price growth. The Realtor.com Market Hotness Index breaks down demand and supply by taking into account two aspects of the housing market: market demand, as measured by unique viewers per property on Realtor.com, and the pace of the market, as… Read more
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Case study examines impact of 2017 condo defect reforms
Housing Affordability Institute, a Twin Cities-based housing policy think tank, reviewed the impact of a 2017 state law aimed at addressing the barriers to townhome and condo construction. In 2017, the Minnesota Legislature reformed its construction defect laws for multifamily for-ownership housing to encourage more multifamily development in growing areas. This change was connected to… Read more
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Housing industry tees off at Building Futures Golf Classic
This week, the Housing First Minnesota Foundation hosted its annual Building Futures Golf Classic fundraiser at The Wilds Golf Course in Prior Lake. This year’s event saw enthusiastic participation, with more than 140 golfers taking part, alongside numerous volunteers who played a role in facilitating various games and activities throughout the course. Golfers were also invited to… Read more
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Six Dream Homes announced as part of the Fall Parade of Homes
Tourgoers on this fall’s Parade of Homes will once again have the opportunity to help families in need when they visit the six Dream Homes. These six exceptional, hand-picked homes are the only homes on the tour where attendees pay a $5 admission at the door. The money raised from admission tickets supports the work… Read more
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Construction continues on apartment remodel for families in need
In July, the final phase of construction began on a project to renovate and remodel the final four units in an apartment building in North Minneapolis. This latest endeavor is the latest and final chapter in the renovation of the entire 100-year-old building. The project, a coordination between the Housing First Minnesota Foundation and AVIVO,… Read more
Wednesday October 4, 2023
THE MINNESOTA HOUSING INDUSTRY NEWS SOURCE BY HOUSING FIRST MINNESOTA