Housing market conditions in the Twin Cities, Minn., metro area remain positive, and home-price appreciation is expected to continue at a healthy rate, according to the four Twin Cities Realtor associations. A bubble in local housing prices is highly improbable, the associations reported, although the rate of price growth could slow if local job market conditions unexpectedly weaken. The healthy gains in median sales price of existing homes over the last five years can be correlated to mortgage rates hitting 45-year lows and the 23,400 payroll jobs added in the last year, the associations reported. These factors will continue to drive strong demand for home ownership in the future. Most credible forecasts predict the Twin Cities region will create at least 40,000 jobs over next ...
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