Local experts break down the state of the housing market
Local realtors said despite the number sales cooling off, prices have continued to climb rising more than 6% in the last year to more than $36,000.
MINNEAPOLIS — The shift in the Twin Cities housing market in 2022 was as stark as the shift in seasons.
Though sales started the year on a hot streak, after hitting a 20-year high in 2021, the war on inflation later sent mortgage rates soaring and a corresponding chill through the market. Closed sales ended the year down nearly 20%, the lowest level since 2014.
“A big factor here is the lack of supply
