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Wednesday October 4, 2023

THE MINNESOTA HOUSING INDUSTRY NEWS SOURCE BY HOUSING FIRST MINNESOTA

Tag: Housing Shortage

  • Home prices in the Twin Cities soften, supply remains scarce

    Home prices in the Twin Cities soften, supply remains scarce

    According to new data from Minneapolis Area Realtors and St. Paul Area Association of Realtors, since last summer, housing prices have dropped 3.1% to a median sales price of $396,100. This is the largest annual decrease since December 2011. In the Twin Cities area, prices decreased significantly during April and May. However, in June, they… Read More

  • Commentary: Big Problems Require Bold, Ambitious Action – Housing Is No Different

    Commentary: Big Problems Require Bold, Ambitious Action – Housing Is No Different

    By Nick Erickson, Housing Affordability Institute Editor’s note: Housing Industry News publishes a mix of commentaries online and in print. Across the nation, legislators and governors are thinking big when it comes to housing reform. Massive issues like the housing inventory, affordability and access problems seen in a growing number of states require bold and… Read More

  • St. Cloud community leaders gather to address workforce housing shortage

    St. Cloud community leaders gather to address workforce housing shortage

    Community leaders in the St. Cloud area gathered at St. Cloud State University on March 23 to discuss the area’s growing workforce housing shortage. The event was hosted by St. Cloud State University’s School of Public Affairs and organized with additional support from United Way Central Minnesota, Central Minnesota Builders Association, CentraCare, St. Cloud Area… Read More

  • Zoning modernization takes first steps at Capitol

    Zoning modernization takes first steps at Capitol

    As the legislature moves into its third month of the 2023 session, Minnesota’s crisis-level housing supply challenge took its first step forward. Rep. Steve Elkins (DFL-Bloomington) authored HF 2235, a zoning modernization bill, calling it the ‘Legalize Affordable Housing Act’. The measure cleared its first hurdle, passing out of the House of Representatives Housing Committee.… Read More

  • Home Price Growth Returns to Historic Norms

    According to new data from Minneapolis Area REALTORS® and the St. Paul Area Association of REALTORS®, the Twin Cities market started to show signs of a return to normalcy in February. The median home sale price was up 2.7 percent to $341,995. This is compared to nearly three years of about 10 percent year-over-year increases. According to… Read More

  • Modular homes continue to be difficult to build in the Twin Cities

    Modular homes continue to be difficult to build in the Twin Cities

    As the Twin Cities continue to face a massive housing shortage, modular construction has been named as a potential partial solution, but the metro continues to create roadblocks for these builders. Modular homes can be built in 45 to 60 days and cost roughly 25% less than a conventionally built home, but most modular homebuilders… Read More

  • Growing coalition calls for legislature to address zoning reform

    Growing coalition calls for legislature to address zoning reform

    As the housing inventory and affordability crisis continues to worsen in Minnesota, a broad coalition is pressing the legislature to take action. The coalition, which includes the Minnesota Realtors®, Housing First Minnesota, the Minnesota Multi-Housing Association, Minnesota Chamber of Commerce and others, is urging the legislature to adopt Senate File 3259, which has emerged as… Read More

  • Lennar plans to bring 154 townhomes to Maple Grove

    Lennar plans to bring 154 townhomes to Maple Grove

    Lennar Corporation will be building 72 townhomes in Maple Grove, and they hope to add an additional 82 townhomes to their already approved project for a total of 154 market-rate units in the new Weston Commons neighborhood. The three-bedroom, two-bathroom townhomes sized between 1,700-1,800 square feet will be sold starting at $350,000. Some are slated… Read More

  • M/I Homes to bring 900 homes to themarketplace in five metro cities

    M/I Homes to bring 900 homes to the
    marketplace in five metro cities

    As the dire need for more housing units in Minnesota continues, M/I Homes announced in a press release that it plans to bring 900 units, including townhomes, single-family houses, twin homes and villas, to Blaine, Delano, Corcoran, Shakopee and Minnetrista. “By opening these five communities, each with multiple product offerings and needs, we are striving… Read More

  • Senate takes first step toward addressing exclusionary zoning

    Senate takes first step toward addressing exclusionary zoning

    As the Minnesota Legislature convenes for its 2022 session, legislators find Minnesota’s housing market facing historic headwinds. The inventory of available homes is consistently at or among the worst in the United States, the homeownership equity gap measures the worst in the country and new-home housing affordability in our state is the worst in the… Read More

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