“We have a growing community.
Real estate agent Brandon Johnson provided statistics showing that in Minnesota, the median home price jumped from $154,000 in 2012 to $306,750 in 2021.
Meanwhile, baby boomers are seeing little reason to sell their homes, Munson said.
In one year, mortgage rates have climbed from 3% to 4.75%, driven by the Federal Reserve Board’s activity designed to rein in inflation.
Johnson said that he hears questions about whether there’s a housing bubble or a housing crisis, which he strongly disputes.