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minneapolis housing market blog posts

Checking in on the Market: Minneapolis Real Estate News

Ryan Platzke

Here in the Twin Cities area, steady growth has been driving a hot market. During the summer months, buying and selling a home near Eden Prairie or the surrounding suburbs of Minneapolis is made easy by the Summer Selling Season—the time of year where the real estate business enjoys a seasonal boom that benefits buyers and sellers alike.

Fed Rates Remain Unchanged in September, and Twin Cities Region Shows Permit Spike

Ryan Platzke
Photo by www.bigstock.com
A statement released by the Federal Reserve read, "…the case for an increase in the federal funds rate has strengthened but [the committee] decided, for the time being, to wait for further evidence of continued progress towards its objectives.” In other words, the current state of the economy is strong, but the Fed is reserving judgment for just a bit longer as it assesses economic rates of progress.

Hints at a December rate hike seemed readable however, as three of the FOMC members expressed dissent from Chair Janet Yelen’s leading decision to keep mortgage interest rates stagnant. The next Federal Reserve committee meeting will take place December 13 and 14, so it will be over two months before we’ll know whether to expect rate hikes as a result.

As for more localized developments, Finance-Commerce.com reports that permits to construct single-family homes in the Twin Cities region was up by 38% in September. What does this mean for potential homeowners and homebuyers in the Twin Cities and Eden Prairie areas? For starters, this area saw exceptional inventory demand in 2016, and an increase in building permits for much-desirable single-family homes is an encouraging development that could drive housing prices a bit lower, and make a move more feasible for families seeking their dream home.

What’s more: combine that local bit of news with the Fed’s decision to hold off on raising mortgage interest rates for now and you’ve got the perfect recipe for homeownership. Those interested in buying a home in the Eden Prairie or Twin Cities region can do so with financial confidence, knowing that they are mining historically low interest rates. Likewise, a boost in local inventory is sure to diversify your housing options if you’re on the hunt. No matter what your home ownership goals are, now is a special window in which to explore your options and lay down roots of your own this autumn.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Residential Construction in the Twin Cities Region is On the Rise

Brace Helgeson

According to recent reports from the Builders Association of the Twin Cities (BATC), construction of new residential properties in the region has risen steeply, providing a welcome boost to second quarter figures. In fact, construction permits for residential properties are at their highest rate in nine years. Thus far, 2016 has been a competitive year in the Twin Cities housing market, with incredibly high demand and a shortage in available supply. That’s why the BATC’s report on the recent surge in residential building is welcome news for many eager homebuyers and seller alike.

Home Prices In The Twin Cities Holding Strong

Brace Helgeson

As we welcome in 2016 many experts are predicting that we will continue to see growth in the housing market in the Twin Cities area and across the nation. We can expect to see a steady increase in home prices as they inch towards the numbers we last saw pre-recession.

New Home Sales Rise In November

Brace Helgeson

After a slow October the number of new -home sales increased in November according to the most recent report from the Commerce Department. New-home sales increased by 4.3 percent last month, up from the fall we saw occur in October when new-home sales decreased from 495,000 to 470,000.

Average Homebuyer Credit Score Drops

Ryan Platzke
A recent report from Ellie Mae, a mortgage software company who processed over 3.7million loan applications in 2014, showed that the average credit score for home buyer has decreased. For the month of September the average FICO score for mortgage borrowers was 723. In comparison, in September of 2014 the average FICO score was 732

Millennials Face a Few Obstacles Buying Real Estate in the Twin Cities

Brace Helgeson

Millennials, who are now mostly in their 20’s and  early 30’s , are entering the real estate marketing looking to purchase their first home. However, they are being met with a few obstacles. Many are burdened with a large amount of student loan debt, and they more than likely have been renting for some time at a high rate which has made it difficult to save for a down payment.

Housing Market in the Twin Cities in March the Best in a Decade

Brace Helgeson

The Twin Cities housing market was hot last month. In fact, it was the strongest March we have seen in a decade. Buyers were given more options when it came to available homes on the market, and mortgage interest rates continued to remain low.

Home sales in the Twin Cities off to a strong start

Brace Helgeson
by Jim Buchta


Home buyers in the Twin Cities got a jump on spring last month.

During January, there was an unseasonable increase in signed purchase agreements, suggesting that moderate temps and unexpected declines in mortgage rates roused buyers from their normal midwinter slumber.

Twin Cities Housing Market Starts 2015 Strong

Brace Helgeson
The housing market in the Twin Cities has started 2015 on a strong note with the number of pending home sales increasing last month

In January we saw an unseasonable rise in the number of signed purchase agreements, a decrease in mortgage interest rates may have helped push buyers into the market.

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Underwater Homeowners in the Twin Cities Now 60 Percent Below Peak

Brace Helgeson
Good news for the Twin Cities housing market. The number of homeowners underwater on their home mortgage, meaning they owe more than their home is valued at, dropped below the national average according to the most recent report by Zillow.

Twin Cities Home Sales Decrease While Home Prices Increase

Brace Helgeson


Now that summer has come to an end and the number of foreclosures in the Twin Cities continues to decrease we are seeing a change in housing. A recent report released by the Minneapolis Area Association of Realtors showed that last month there was 7.3 percent fewer closing in the 13-county metro area over last year.