Continued changes in the Twin Cities housing market are altering the way homeowners and investors approach purchases and renovations.
Homebuyers flooded the market in 2021, attracted by record-low interest rates and armed with increased savings after reducing their spending throughout the pandemic. The market looks drastically different today. Mortgage rates have climbed above 7% for the average 30-year, fixed-rate loan, and inflation has taken a bite out of savings.
Consequently, the market today…
