Recent content from Jim Buchta
Single-family homebuilding surges 32% in Twin Cities
Metro builders lament lack of supply amid dramatic increase in demand for housing.
Zillow to make cash offers for houses in Twin Cities based on its 'Zestimates'
Zillow, other iBuyers say their approach makes selling a house easier; others are not so sure.
Good news for renters? Twin Cities apartment vacancies are rising
The market appears to be giving renters more clout, aligning supply, demand.
What's hot in Twin Cities area real estate: Million-dollar homes
Upper-bracket home sales are being fueled by record low mortgage rates, rising home equity and a hot stock market that's enabling wealthy homeowners to trade up to even more expensive homes.
Busiest January in 15 years for Twin Cities housing market
Last month ended with 43% fewer homes on the market than a year ago, suggesting a challenging 2021 for buyers.
Minnesota housing market stays red hot in January
Home sales were up sharply across the state last month, with northern regions posting the largest gains.
Amid virus, developers woo Twin Cities area renters with fresh air
Purifying systems and other features are being built to ease concerns during pandemic.
Hot January adds up to best start in two decades for Twin Cities homebuilders
With few homes on the market, a trade group says surging demand has 'the market moving at an incredible pace.'
Pandemic has more Twin Cities home buyers looking outward
Pandemic is turning Twin Cities housing market inside out, with remote work lessening downtown's appeal.
What were the hottest housing markets in the Twin Cities metro area?
With mortgage rates falling to record lows and a pandemic upending how and where people want to live, sales exceeded new listings throughout much of the metro. Find out how your community fared in our searchable Hot Housing Index for 2020.
Median price hit record $305,000 in red hot Twin Cities housing market last year
Buyers took advantage of historically low mortgage rates as the pandemic fueled a surge of suburban demand.
Developers of two big apartment projects remain bullish on Mpls.
As the apartment-vacancy rate in downtown Minneapolis rises and developers struggle with market uncertainties and development challenges, plans to build two high-end towers with a…
Minneapolis cap on short-term rentals upsets operators, developers
Tightened regulations theaten an increasingly popular rental option, critics say.
Twin Cities residents in lowest price apartments struggling most with rent, survey shows
Monthly trade group survey shows rent payments overall remain relatively stable despite economic strain.
For Twin Cities builders, 2020 was year of the single-family home
Apartments languished as buyers turned to bigger homes in suburban markets.
'Quiet message-maker' Jay Walljasper, former Utne Reader editor, dies at 65
In an essay published a few months before he died late last month, Jay Walljasper challenged the popular notion that everyone should maintain a single…
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Disruption interrupted: Scramble is back on to become Amazon of home sales
iBuyers control just a sliver of the red hot U.S. housing market, but still believe convenience will help them prevail.
Roers Cos. sees opportunity in changing rental-housing market
Firm adds to development team to boost offerings for seniors, working class.
Twin Cities median home sale price hits all-time November high of $310,000
Sales keep surging, though agents say signs are emerging that buyers are getting wary of rising prices.
Facing closure, St. Paul consulting firm refined its pitch when pandemic struck
Consultant SagePresence finds online pivot has it positioned for dual-role growth in 2021
November market stays hot for Twin Cities homebuilders
Despite the pandemic, Twin Cities housing construction permits continue to outpace last year.
Developer moves ahead with Lake Street, Edina apartment projects
Amid pandemic, apartments in Minneapolis, Edina target low-income tenants.
Home sales jump in rural Minnesota as COVID-19 reshapes housing market
North central Minnesota saw closings jump 63% in October, according to data from a trade group.
Shuttered Walmart in St. Anthony to be replaced with 492 apartments
The development will include two buildings with tweaked designs to address COVID-related issues.
Buyers 'hold all the marbles' in downtown Mpls. condo market
Agents say that, for now at least, supplies of available urban condos and townhomes exceed demand
Twin Cities home sales surge led by 47% increase in Minneapolis
Low rates helped drive surge; the average 30-year fixed-rate mortgage slipped Thursday to 2.72%.
Twin Cities apartment rents moderating slightly as vacancy rates rise
Downtown Minneapolis, St. Paul are seeing the most empty apartments.
Pandemic creates boom in Minnesota real estate careers
Weary of uncertainty and layoffs, a bumper crop of new agents takes advantage of busy market.
Loring Park mansion is star attraction of 124-unit apartment project
New apartments near Loring Park will repurpose century-old mansion as a social hub.
Busiest October in 15 years for Twin Cities homebuilders
Permit data show construction of single-family homes continues to surge, while far fewer apartments are being built.
Sally Jean Milroy, 87, was led by compassion, curiosity
Sally Jean Milroy's compassion nourished a long career in nursing. Her curiosity inspired her to start a cattle ranch and vineyard. As a mentor and…
Minneapolis, St. Paul housing exodus more myth than reality
Twin Cities suburbs have enjoyed surging interest from home buyers as the pandemic has upended how people work, amid rising crime and lingering unease following spring riots. But home sales are also on the rise in St. Paul and Minneapolis.
Low interest rates keep Twin Cities home sales rolling along
Low interest rates fuel surge in demand in September, when sales usually slow down.
Sons of Norway anchors biggest mixed-use addition in Uptown in decade
Daymark Uptown and a familiar tenant have settled in on West Lake Street.
Signs of 'financial stress' emerge in survey of Twin Cities rent payers
A greater share of metro apartment dwellers missed their rent payments last month as aid expired.
Construction is underway on first phase of Champlin riverfront revival
A restaurant, event center and pavilion are up next, all part of a sprawling $100 million redevelopment project.
Twin Cities homebuilders see busiest September in 15 years
The surge, the most since 2005, to build single-family homes is fueled by low rates.
Low mortgage rates continue to fuel hot Twin Cities housing market
With nearly one-third fewer homes on the market than a year ago, the metro's median sale price rose 10%.
Rising vacancies spur discounts for renters in Twin Cities
Concessions are most common in upper-end Minneapolis buildings while renters in less costly apartments are unlikely to share in breaks.
Why Minnesota lumber prices are going through the roof
A do-it-yourself home-improvement and construction boom has sent the price of lumber skyrocketing, as sawmills and strand-board manufacturers, including in Minnesota, scramble to keep up with surging demand.
Twin Cities short-term rental market takes a beating: 'Our whole business shifted'
The travel downturn because of the coronavirus is hitting short-term leases especially hard.
27-story apartment tower eyed for downtown Minneapolis
The proposed development comes as thousands of new units are in the pipeline for a downtown hit hard by a pandemic and unrest.
Twin Cities homebuilders see early chill in August
Builders point to COVID delays and regulatory issues for sharp decline in permits.
John Hubbell, author and roving editor for Reader's Digest, dies at 93
As a roving editor for Reader's Digest, John Hubbell had it made. He worked from home, had an unlimited travel budget and crossed paths with…
Developer plans 12-story apartment building in Mill District
Eighteen of the 255 units in the $75 million project will be income-restricted.
Twin Cities home sales surge by 10%, median price hits $312,500
With relatively few houses on the market, sellers are getting more than their asking price.
Vacancies expected to increase in Twin Cities apartment market
Developers plan to add thousands of new units in an economy upended by the pandemic.
Twin Cities developers push back on mandated storefronts in apartment buildings
With rising commercial vacancy rates, developers are imploring city planners to let them build more apartment units on street level.
RiversEdge redevelopment project moves forward in downtown St. Paul, despite COVID
The state's stalled bonding bill is another complication as county leaders are seeking $40 million in state funding.
St. Paul nonprofit housing developer aims to grow with demand fueled by pandemic
The goal is to develop or acquire 400 to 450 units over the next several years in South Dakota, a CommonBond Communities official said.
Minnesotans working from home clamor to buy one at lake
Demand for houses on lakes that are a couple of hours from the Twin Cities is high, especially properties with decent internet access.
'Where's all that money coming from?' July was a hot month for Twin Cities homebuilders
With buyers able to tap financing at low rates, demand is surging for homes.
82-unit apartment building would replace longtime Nicollet Av. restaurant
The owner of Curran's cites the pandemic for ending a 70-plus-year run for the family business.
Aeon proceeds with $100 million affordable housing project in Bloomington
Nonprofit will build 172 new apartments and rehab 306 others on site near Mall of America.
Median home price at $305,000 as Twin Cities see surge in sales
After two sluggish months, metro home buyers returned in force last month but are competing for a dwindling number of listings.
Dominium begins work on $74 million apartment project in Roseville
The developer plans 228 units in two buildings as part of the first phase of redevelopment of former industrial site.
3 Minneapolis apartment projects head for city review
The developer of a project proposed along E. Hennepin Avenue wants to include street-level apartments, dispensing with retail.
Twin Cities hotels struggle as rooms fill on the North Shore
Minnesotans are taking to the road this summer, boosting demand for resorts, vacation rentals and campgrounds in places where social distancing happens naturally.
Pandemic hammers Twin Cities homebuilders as permits drop 42%
June was the second consecutive month that saw a big drop in building permits, reflecting logistical challenges and unease over demand.
Minneapolis vandalism targets include 198-unit affordable housing development
The apartments were expected to hit the market later this year.
Report: Pandemic hotel swoon to cost Minnesota governments $170 million
Industry hit by a collapse in leisure and business travel worse than post-9/11.
Buyers facing even tighter Twin Cities housing market: 'It's a dogfight out there'
Fewer houses are hitting the market and prices are drifting upward despite a grim economy.
No longer 25 stories, proposed Dinkytown apartment project goes before Mpls. Planning Commission
It will be among four large apartment projects totaling nearly 1,200 units combined that will be reviewed this week.
For now, no big increase to late rent payments in the Twin Cities
Payments faltered the most in less-expensive apartment buildings.
Mortgage delinquencies double in the Twin Cities
The Twin Cities and the nation saw delinquency rates surge to historic levels in April along with unemployment.
Policies limiting Twin Cities house showings and open houses to lift July 1
But some changes, like virtual tours, are likely to stick around.
COVID-19 has put a chill on the Twin Cities senior housing industry
Both developers and the residents they serve have been forced to reassess their plans.
Twin Cities house hunters aren't avoiding urban listings, yet
Zillow says online house searches in April showed similar geographic mix as a year ago.
Median price for Twin Cities home sales tops $300,000 for first time as slump hits
Signed purchase agreements dropped 20%, but the sales that closed in April showed buyers still paying top dollar.
Tax relief for mortgage debt cancellation key issue for Minnesota Realtors
As it turns 100, Minnesota Realtors, a statewide trade group, looks ahead, including a rebranding.
Meant for shoppers, Edina showroom now hopes to lure downsizing design firms
Twin Cities designer Gregory Rich says an uncertain economy prompted a new vision for reworked design center.
Executives are out, traveling nurses in client mix at Wayzata corporate housing company
Temporary rentals going to traveling nurses, those stranded or in quarantine.
Twin Cities apartment vacancy rate could hit double digits
An economic collapse has yet to generate anticipated spikes in unpaid rent, but elevated vacancy rates seen reaching into 2024.
Developer nixes 10-story TMBR condos, switches to apartments in North Loop
Developer remembers the economic hit from being too optimistic in Great Recession, 'I'm not going to make the same mistake again.'
