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Rising interest rates have reshaped the housing market in Minnesota. There are still many more buyers than sellers, but bidding wars are rarer and prices are more stable.
Build it and they will come? That may be true for Allianz Field, home of the Minnesota United soccer team. But so far it hasn’t been the case for the development area around the soccer venue in St. Paul’s Snelling-Midway area.
The pace of price increases has been slower here, suggesting that a shakeout would be less volatile.
The rise in Twin Cities housing prices is nothing new, though prices weren’t rising quite this steeply until the pandemic hit.