Are Condos & Townhomes The Next Housing Boom?

September 21, 2010 By 7 Comments

The Star Tribune has a good article discussing the demographic changes coming to the Twin Cities in the coming years and how cities and housing are not currently designed for the needs of our aging population.  The best explanation of the trend is found in their infographic:
(image courtesy Star Tribune)

So while new housing built in the last 20 years targeted larger households, the growth in households in the next 5 years is in smaller households.  But not so fast!  Currently there is a glut of townhomes and condos for sale so some of the future demand will be satisfied by this inventory:

Months Supply of Homes for Sale in the Twin Cities

(image courtesy MAAR)

Filed Under: Community Issues, Crystal Ball Projections, Info for Buyers, Info for Sellers, Market Stats Tagged With: , , , ,

Twin Cities Affordability Hits Highest Level in Nearly 4 Years!

February 14, 2008 By Leave a Comment

With the release of this week’s Weekly Market Activity Report we find that the Twin Cities Housing Affordability Index hit a near 4-year high!

The Housing Affordability Index takes into account interest rates, area median income, and median home sales price.  With both sales prices and interest rates falling recently, we find the Index has increased quite substantially in recent months.

Interest rates remain well below 6% and there are a lot of new houses coming on the market this time of year.  While it isn’t the right time to buy for all people, there are some compelling reasons to talk to a REALTOR about your situation and consider whether it is the right time to purchase for you.

Filed Under: Community Issues, Info for Buyers, Info for Sellers, Market Stats, Mortgage Rates Tagged With: , , , ,


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