It appears that stiffer credit requirements and increased down payments are finally percolating down to the new construction business. August home starts were down almost 9% year over year and reflect the larger trend towards a cooling in the housing market.   Twin Cities existing home sales are still strong, but the trend appears to be nationwide.

The robust economy that Minnesota characterized by increasing industrial output, financial sector expansion, dynamic retail sector driven by leaders like Best Buy and Target and overall healthy economic expansion is providing a great cushion for owners of homes in Minnesota. Minneapolis and St Paul are still showing strong demand for homes as people continue to relocate to the state and gravitate towards our high standard of living.