Recent content from Jim Buchta
A cool February for home sales, prices in the Twin Cities
February sale prices were up $2,000 from a year ago, a record median price for the month at $342,000 but the smallest annual gain in years.
Looking for an affordable starter home in the Twin Cities area? Good luck
Years of record price gains have fueled the demise of the $300,000 starter house, making houses in every price range more expensive.
These were the hottest neighborhoods for homebuyers in Mpls. and St. Paul in 2022
Homes in Minneapolis and St. Paul's hottest neighborhoods last year sold quickly, fetched top dollar and have been especially popular because they have a sense of community coveted by many urban buyers.
Home sales decline in the Twin Cities, but prices post modest gains
While sales cooled in January, data point to the spring market being competitive.
Why Twin Cities home prices are still 'hot' amid cooling sales
In 2022, the number of home sales in the Twin Cities fell by double digits. Mortgage rates doubled in the final six months of the year. And yet housing prices around the metro area grew by double digits over the previous five-year average.
As homebuyers flock to suburbs, Lake Elmo becomes hottest market in Twin Cities area
The hottest city in the Twin Cities metro area for home buyers last year was also one of the most inconspicuous.
![The home of the Brockshus family Sunday, Jan. 22, 2023, in Lake Elmo, Minn. ] CARLOS GONZALEZ • carlos.gonzalez@startribune.com.](https://chorus.stimg.co/24404466/merlin_69693413.jpg?h=120&w=180&fit=crop&bg=999&crop=faces)
See where your city ranks in the Twin Cities area's hottest housing markets
Home buyers seeking more space made several outer-ring suburbs the hottest markets in 2022.
Homebuilding in the Twin Cities off to a slow start during the first month of 2023
Builders started the year in conservative mode as they wait for more clues about what the spring market may hold.
Number of Minnesota home sales in 2022 at an eight-year low, but prices hit a new high
Price gains and declines in sales were more pronounced in the Twin Cities metro.
Thomson Reuters plans to sell large part of its Eagan office campus
The company is looking for new offices in the Twin Cities, in part because of a shift to hybrid work.
Foreclosure rates in the Twin Cities up last year, but they remain low
There was a pandemic-fueled uptick in the number of Twin Cities homeowners unable to pay their mortgage, but the rate is still below pre-pandemic levels.
New — and old — strategies for cash-strapped home buyers
Let renters in duplexes, accessory dwelling units and vacation rentals help you make your mortgage payment.
Building of new houses dipped in Minnesota in 2022, but apartment construction jumped
Higher interest rates crushed demand for single-family homes and led builders to pivot to apartments.
More cities, suburbs need to wipe out zoning to get construction moving, author says
M. Nolan Gray, a shaper of the national discussion on zoning, recently laid out his argument with Minnesota homebuilders.
What's ahead for the Twin Cities area housing market in 2023?
Twin Cities housing prices aren't likely to fall in 2023, experts said, while more people are expected to team with friends and family to buy.
Home sales and listings fall in Twin Cities area, but prices keep rising
The relatively few houses that are on the market are selling quickly.
North Loop Green tower lands Piper Sandler as its anchor tenant
The brokerage firm, now in the U.S. Bancorp HQ, will move to the still-under-construction building in 2025.
Twin Cities heating and cooling firm Genz-Ryan exits home construction
With home building down and interest rates up, the company will focus on service and installations.
Homebuilding in the Twin Cities fell steeply during November
In a reversal, some Twin Cities homebuilders have inventories of houses that are ready for occupancy.
Twin Cities area retail space is in demand: 'We're having our best year'
A post-pandemic surge of in-person shopping is boosting the market for brick-and-mortar stores and restaurants.
Ryan Cos. sells St. Louis Park office tower and plans to build another next door
Even in the face of declining office use, a local developer spots a chance to capitalize on a recent success.
Twin Cities housing market slows even more, and buyers gained a slight edge last month
Sellers outnumbered buyers around the metro area, but the median price is still rising.
Rising mortgage rates increase demand for apartments in Twin Cities
Vacancy rates are generally lower in the suburbs than in Minneapolis and St. Paul. Both downtowns have tipped toward renters.
Kevin Garnett's lakeside estate fetches $9M, biggest home sale of year in Twin Cities
The seven-acre property includes a 12,000-square-foot house built in 1999.
Twin Cities home builders hit the brakes after big start to year
The first half of the year was super busy for builders. But this month was the slowest October in a decade for them.
Twin Cities home market appears less likely to crash than others, data show
The pace of price increases has been slower here, suggesting that a shakeout would be less volatile.
How to price a home in Minnesota when the market is slowing
Here's what matters the most — and the least — when pricing your home to sell quickly right now.
As interest rates rise, some Twin Cities sellers wait before buying again
Timing a market in any investment is risky, but a growing number of home sellers are taking a pause before the next plunge.
Twin Cities real estate agents apologize for their role in homeownership gap
Minneapolis Area Realtors announced policies aimed at closing the racial gap in homeownership in the state.
The Twin Cities housing market is weird right now. Should you buy or rent?
Rising mortgage rates have completely changed the equation for prospective first-time homebuyers.
Housing construction in Twin Cities metro dips for fifth month
Declines in for-sale new housing have been offset by an increase in demand for new rental housing as higher borrowing costs are forcing some would-be buyers to rent instead.
Prudential to move into Dayton's Project building in downtown Minneapolis
After selling its Plymouth campus, Prudential makes the move to the urban core of Minneapolis, giving downtown a boost.
Higher mortgage rates take toll on home sales and listings across Minnesota
It's still a seller's market, but it is becoming less competitive and the number of deals was down 24% last month.
3 residential towers will replace downtown Minneapolis data building
The post-pandemic transformation of office to residential space is accelerating in downtown Minneapolis.
NorthstarMLS, provider of Minnesota's home values and data, taps new leader
Tim Dain, an executive with a listing system in Missouri and Illinois, succeeds John Mosey, who has led Northstar for 20 years.
Why Plymouth office building is about to meet the wrecking ball
A lingering economic effect of the pandemic will be a shakeout in office real estate in Minnesota and around the world.
Homebuilding in the Twin Cities lost momentum this month
Permits for single-family homes fell 28% while those for apartment units were up 2%.
For Twin Cities real estate veteran, a late-career idea and venture were too obvious to pass up
Lynn Leegard's TrustFunds eliminated the need for earnest money to be paid via paper check.
'Shelter in place' order issued for residents of Pine Island and area, later retracted; suspect in custody
Local Sheriff's Office says alert initially sent too widely, stemmed from standoff involving a domestic incident in southeastern Minnesota's Pine Island.
Rising mortgage rates put the squeeze on Twin Cities renters
As the cost of owning a home rises, people are staying put in apartments. That gives landlords more power to raise rents.
Home market loosened very little last month in the Twin Cities
The number of sales fell amid rising interest rates and ultra-tight supply. Prices jumped 7% from a year earlier.
Twin Cities area home price reductions more common, but it's still a seller's market
Higher mortgage rates are causing home sales to slow, but there's still a shortage of listings and sellers are getting more than the asking price.
Prices up, home sales down as local market continues to shift
Rising mortgage rates — and prices — are making houses in the Twin Cities less affordable, and it shows in the June figures.
Historic warehouses convert into modern apartments in North Loop
A Chicago-based developer found creative solutions to renovate the Duffey Paper Co. complex.
About inflation in the Twin Cities
New data from a real estate market watcher showed that the Twin Cities continues to lag behind the country in one major inflation component — housing costs.
Twin Cities' biggest office complex sold to N.Y. investors
The price for Normandale Lake Office Park in Bloomington wasn't immediately disclosed, but it went for $370 million when it last sold in 2014.
Home builders in the Twin Cities go to town on apartments
In the Twin Cities metro, apartment construction increased while single-family housing declined during June
Twin Cities real estate broker Kris Lindahl wants to trademark that big stretch
The founder of Kris Lindahl Real Estate says copycats are co-opting his arms-out pose that's on billboards across the state.
Looking for a lake home in Minn. this summer? Get in a long line
Lake homes are a hot commodity in 2022, but rising mortgage rates and gas prices could make it a little easier later this year.
Developer goes with the flow with $20 million makeover of Riverplace
Much overdue renovations of the Minneapolis riverfront office complex will focus on deferred maintenance and attracting new office tenants.
Housing market in the Twin Cities loosened just a bit last month
Houses in the Twin Cities are now "lasting on the market for more than a few hours," one Realtor said.
Twin Cities couple aim to preserve the history of every home in the nation
Amanda Zielike and David Decker created HouseNovel, a website that combines photos and stories about homes.
HomeServices of America expands its brokerage reach in New Jersey
Twin Cities-based HomeServices of America said it had acquired Berkshire Hathaway HomeServices New Jersey Properties, which has more than 600 agents in northern and central New Jersey.
Apartment construction tripled in the Twin Cities during May
Rental construction soared while single-family construction fell, according to a monthly building permit report.
Want to buy a cabin Up North this year? You'll need these strategies and some luck
The real estate market in Minnesota's lake country is even tighter than in the Twin Cities these days.
Developers hope $200M update brings Northstar Center back to life
Sherman Associates joins Polaris Properties in a long-awaited overhaul of a complex that covers nearly an entire block.
Study: Minorities remain much more likely to be denied mortgage in Twin Cities
The Federal Reserve of Minneapolis found that income differences account for just a portion of the gap in mortgage approvals by race.
Hines plans a 29-story tower to fill a gap in the Minneapolis skyline
The proposal comes amid soft demand for downtown office space, and would preserve an iconic mural made famous by Prince on the wall of the adjacent Schmitt Music building.
Housing prices hit record, but more sellers looking to list
Agents say higher mortgage rates are bringing Twin Cities sellers into market, as they fear their pricing power is about to erode.
New customer 'dashboard' from Edina Realty tracks the home-buying process
Backers of MyAtlas say it was designed to let buyers and sellers track the progress of a home purchase just like when you buy a pizza.
How to negotiate a mortgage in Minnesota when rates are rising quickly
Mortgage rates are at their highest level in more than a decade — and moving quickly.
Rising mortgage rates boost demand for Twin Cities apartments, pushing up rents
With fewer vacant apartments in the Twin Cities, rents increased slightly during the first three months of the year.
April was best on record for home builders in the Twin Cities area
Permits to build houses and apartments soared last month after a sluggish start to 2022.
Rental apps become a key to reviving old Minnesota hotels
Developer Grant Carlson plans to use technology to run two historic boutique hotels.
JoAnne Korkki, a good neighbor in Brooklyn Center, dies at 87
She did what she could to make the lives of her neighbors a little better.
Home prices rising in Twin Cities, but not as fast as other metro regions
Prices in the Twin Cities area are rising at about half the national average, attracting buyers from more expensive parts of the country.
Twin Cities home buyers hustle as mortgage rates rise and supply remains tight
The number of home sales fell again in the region last month as supply tightened further and prices rose.
Rochester building sets record for most expensive apartment sale in Minn.
The 350-unit Berkman Apartments, which opened in 2020, sold for $536,000 per unit.
Minnesota real estate agents vastly outnumber houses to sell
During the pandemic, nearly 20,000 people signed up to sell real estate in Minnesota.
Buyers battle for $1 million houses in the Twin Cities area
With listings dwindling, there are now bidding wars for upper-bracket houses in the metro area.
Homebuilding fell slightly during March in the Twin Cities
Apartment construction increased while single-family units retreated.
2 months into year, sellers still control metro housing market
A shortage of listings in February caused a decline in sales but an increase in prices.
Galleria Edina, the fanciest mall in the Twin Cities, is sold to local investors for $150 million
The mall's Houston-based owner had tried to sell it just before the pandemic but then put its plans on hold.
As Minneapolis workers return, there's a new tower on skyline
The RBC Gateway tower is the tallest office building to be built downtown in 30 years and is expected to bring round-the-clock energy to the north end of Nicollet Mall.
Residential building permits in the Twin Cities tumbled in February
Permits to build apartments and single-family houses fell to the lowest level for any February since 2016.
