Market Insight
In December, the nationwide home builder confidence index fell another 6% to a 3 ½ year low of 56.
What is different this year, is that for the first time since 2011, home prices were down YOY in April.
With inventory levels back down near record lows, the stage is set for another spring rise in Twin Cities' home prices.
Dramatic rises in mortgage rates have caused demand to collapse to its lowest level.
Mortgage rates have now clearly broken out of a 41-year declining trend that began back in 1981.
After a raging hot spring market, the median home price in the Twin Cities fell 1.3% in July to $375,000.
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Lake Minnetonka | Corporate
(952) 222-SOLD (7653)601 Carlson Parkway Suite 1050Minnetonka MN 55305
Sarasota | Siesta Key
(952) 388-0043
19900 Main Street Downtown, Suite 750
Sarasota, FL 34236
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