We Minnesotans claim to love all four seasons, but let’s admit we especially savor the warmer temperatures and longer days of summer, with backyard BBQ’s, trips to the lake, neighborhood celebrations…road construction and mosquitoes!
Mortgage rates remain at historically low rates meaning buyers are taking advantage of the season to converge on the housing market. Multiple offers are common on entry to mid-level priced single family homes and the demand for downtown condominiums and newer construction, in prime urban and suburban areas, remains very solid.
Even millennials are beginning to recognize that purchasing a home is a better investment than paying rent. This generation has different priorities and tastes in housing than their parents, which influence the demand for existing housing. Homeowners are reaping rewards from taking the time to prepare their homes to appeal to this new age of buyers.
If you’ve been considering selling your home, we’d be happy to meet with you to discuss how best to approach the Twin Cities housing market. And, if you’re a prospective buyer, we have the experience, depth and know how to help you navigate the opportunities and challenges of the market.
Barry Berg & Chad Larsen