HOME OWNERSHIP GROWS YOUR FINANCIAL EQUITY

FROM MASHVISOR BLOG:
House values in the Minneapolis metro area have risen by 13.6% in the last year alone. However, for investing in real estate, since there is a limited amount of homes in Minneapolis, purchasers are sometimes compelled to compete, leading to higher prices and faster sales, which benefit sellers. In other words, based on the previous month’s major housing market statistics, demand outnumbers supply, providing sellers a price bargaining edge over buyers. As a result, there are fewer available properties than engaged buyers in the market.

• The average home value in the Minneapolis-St. Paul-Bloomington Metro area is $349,595, a 13.6% increase over the previous year.
• According to Zillow, they will grow 11.4% in 2022.
• Minneapolis home values have increased by 6.5% (current value = $321,732) and will still rise.
• Home values in Saint Paul have increased 10.7% (current = $275,264) and will still rise.

VIDEO DATA SOURCE:
https://www.corelogic.com/intelligence/homeowner-equity-insights/