If you’re looking to buy a house in the Twin Cities metro or anywhere in Minnesota, 2018 could be your year. Although the housing market saw a rise in mid-2017, the market is now leveling off. What this means for home buyers is that prices should drop. Over the last few months, Zillow has reported a price reduction in at least 20 percent of all homes in the area. Home Avenue can help you find homes for a reduced price as well as reduced realtor fees with our flat fee rates.
What Can Home Buyers Expect in 2018
Although some experts have seen the current trends as seasonal, there are still some things you can expect with the housing market in 2018. For Instance:
- We’ll see continued growth in new construction and a robust local economy.
- The vast majority of Minnesota homeowners will still be able to take the tax deduction minimizing tax reform’s impact on local housing.
- While prices may or may not increase, you can expect low mortgage rates.
- New construction and housing development are already underway across the state.
- Much of the new construction will be in upper bracket homes starting at $350K.
Factoring in the Minnesota Economy
Minnesota has enjoyed a strong economy over the past few years. There are several contributing factors:
Fiscal Management. Compared to the national average of 8%, Minnesota has saved 10% of its annual budget,
Low Unemployment. Minnesota’s unemployment rate has been below 4% for 40 consecutive months and recently hit 3.3%. The national rate is 4.1%
Median Household Income. The median household income statewide is $65,599. That is $8K more than national median income.
Minnesota: A Great Place to Live
Minnesota consistently ranks high nationwide as great for business startups, lifestyle, healthy living, and housing. We find that most of our clients love to live in the area and are happy with their new homes. Right now is the perfect time to move into the Twin Cities Metro area, as Minneapolis and St. Paul are both thriving cities. No matter where you live in Minnesota, however, you can take advantage of the active 2018 housing market right now.
Home Avenue Provides Superior Real Estate Service
Whether you are buying or selling your home this season, you can count on the real estate experts at Home Avenue to help you every step of the way. We provide high-quality flat fee real estate service for all home buyers and sellers. You no longer have to pay top dollar for commission-based realty. Contact Home Avenue today to find how much money you can save through our service. Call us right now at 952-929-7355, or you can message us at firstname.lastname@example.org.