Minnesota first time buyer assistance is available for those who want to make the investment in a new home in the Twin Cities metropolitan region.
In 2015, the Twin Cities housing market is strong. Thanks to favorable interest rates, pending sales increased by 21.8 percent in the cold month of February. To put it another way, 3,834 homes had signed purchase agreements that month, representing–get this–the largest year-over-year increase since October 2012. Not too shabby, huh?
Also of note– new listings were up by 23.2 percent in February, with almost 5,700 new homes available for sale in the metro area. With inventory like that available, take advantage of Minnesota first time buyer assistance with your down payment and mortgage paperwork, and such, available from Lake Area Mortgage should you need it.
Again, 2015 is heating up nicely as the first two months saw more Minnesota real estate buyer and seller activity than for any one month in 2014. The Twin Cities enjoys a diverse and robust economy with the nation’s lowest unemployment rate of any major metro area. Good job prospects helps fuel the strong housing market.
Here’s what you need to know if you’re wondering about statistics: price per square foot these days is about $120. A home is typically on the market for about 106 days. And traditional home sales are up while foreclosure/short sales are down– that’s a good thing, by the way… Overall, prices are rising.
Consumers seem to be pretty confident about the economy in 2015, such that the housing market is both stable and growing. With mortgage rates around 4 percent instead of the more typical 7 percent average, now is a great time for Minnesota first time buyer assistance from Lake Area Mortgage. Call 651-209-2900 to talk about help available to take you from renting to owning, so that you can enjoy the benefits of owning your own house in beautiful Minnesota.