Twin Cities Real Estate Market Update - October 2021 - Twin Cities NW Metro Life

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Twin Cities Real Estate Market Update – October 2021

TC real estate….”Despite increases in new listings in recent months, America is facing an epic housing shortage, with reporting the U.S. needs an additional 5.24million homes to meet current population needs, an increase of 1.4 million homes since 2019, as new-home construction has failed to keep up with household formations. Assuming the rate of household formations continues, the average rate of new home completions would need to triple over the next 5 – 6 years in order to meet current demand.In the Twin Cities region, for the week ending September 18:

• New Listings decreased 10.5% to 1,736

• Pending Sales decreased 18.1% to 1,289

From the Minneapolis Area Association of Realtors

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Myra Jensen

Myra Jensen

I'm Myra Jensen, lifestyle blogger and Realtor at BRIX Real Estate. I live and work in the Twin Cities NW Metro and love everything this beautiful area has to offer. If you live in the NW Metro or are thinking about moving here, you have come to the right place! Stay up to date with NW Metro, Events, Restaurants, Outdoors, Real Estate and more!
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