Tag: Housing Market

  • Homebuilder confidence falls amidst rising mortgage rates

    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

  • Homebuilding off to slow start in 2023

    Homebuilding off to slow start in 2023

    Twin Cities homebuilding activity continues to stall as mortgage rates hold homebuyers on the sidelines. Metro builders pulled permits for 328 single-family homes in January, a 46% drop from January of last year. Multifamily construction in the Twin Cities hit a slump as well with a 53% drop in total permitted units from this time… Read More

  • Twin Cities homebuilders respond to slowing market

    Twin Cities homebuilders respond to slowing market

     According to the National Association of Home Builders Housing Market Index, builder sentiment in November fell to the lowest level since 2012, apart from the first two months of the COVID-19 pandemic.  Throughout the pandemic, builders were seeing fast and furious demand from buyers. But now, overall economic uncertainty and mortgage rate increases have led… Read More

  • State’s housing inventory continues its downward spiral

    State’s housing inventory continues its downward spiral

    Minnesota’s housing market continues to hit new lows in the number of homes for sale, all while homebuyer demand remains strong. This has led to an even more intense home seller’s market where prices are hitting new highs with multiple offers on the table. According to the Minneapolis Area REALTORS®, the Twin Cities has just… Read More