St Paul, MN: The most recent reports and data for the Minneapolis St Paul real estate market shows continuing signs of rebound with both increased home prices and increased building permits for new construction.
Improvements to the housing market are attributed to an
- improved employment market
- historic low mortgage interest rates
- tight inventory of quality homes for sale
- less foreclosured home entering the market
New construction builders are also complaining about a lack of quality lots within the metro area that have current access to utilities. This forces builders to pay premium prices for prime lots, which of course increases the price of the new home.