Jim Buchta

3 weeks ago | startribune.com | Jim Buchta

Twin Cities homebuilders are bracing for the sting of tariffs on lumber and other materials at a time when new construction sales are on the rise, defying a national slump. Those homebuilders offering steep discounts helped boost March sales in the area by 2.2% from the same time last year. That's the biggest gain of any of the 90 major metros measured and one of only four to see a sales increase, according to data research firm Zonda.

1 month ago | startribune.com | Jim Buchta

For homebuyers, the only fate worse than falling into a bidding war is losing one. Though the Twin Cities housing market isn't as hot as it was two years ago - when mortgage rates were at record lows - battles between buyers are still common, and happy sellers keep reaping the rewards. More than a quarter of all houses in the metro sold for more than the original asking price during February, according to Redfin. That's on par with last year but significantly higher than the national average.

1 month ago | startribune.com | Jim Buchta

HomeServices of America might be the biggest real estate company even homebuyers and sellers don't know. The Twin Cities-based firm is the behemoth, behind-the-scenes owner for some of the nation's biggest and most popular real estate brands, including Edina Realty. The company, one of several Berkshire Hathaway Energy companies, has grown by acquiring dozens of national brokerages, which retain their local brand and image.

1 month ago | startribune.com | Jim Buchta

What qualifies as a starter house - and what it means to be a first-time buyer purchasing one- has changed. It's familiar domain for move-up buyers seeking their next house to fit a growing family and downsizers looking to consolidate now that the nest is empty. But it's uncharted territory for first-time buyers, who are also older and wealthier than they have been. That means, roughly, that Gen Z, millennials and baby boomers are duking it out for a dearth of listings.

1 month ago | startribune.com | Jim Buchta

The latest data for the week ending April 5 showed buyers are feeling the pressure. In the Twin Cities, buyers signed 1,043 purchase agreements, nearly 20% more than last year at this time, according to the St. Paul Area Association of Realtors. Sellers, meanwhile, listed 1,534 properties, about 200 more than the week before and 8% more than the prior year.