Created: January 19, 2021 04:54 PM
Finding a house in the suburbs right now can be challenging. It’s part of the housing market buying frenzy being seen across the country.
The number of homes being sold across the country is going up during the pandemic. Zillow reports it s one of the highest increases in sales since 1983.
Zillow also reports that, in the last year, the average home price in Minnesota has gone up by 6.6%. That brings the typical home value to more than $277,000. They also predict home values will rise another 10% in the next year.
Even so, historically low mortgage rates are making it an extremely competitive market for homebuyers, especially in the suburbs.