Twin Cities exurbs such as Otsego, Farmington, and Monticello have all seen significant increases in housing permits from 2012 to 2013. These increases are still well short of the number of housing permits issued in the early 2000s, when many exurbs saw rapid growth. Few expect a return to the high demand years that lasted until about 2008, but as home prices rise in the Twin Cities suburbs buyers are again heading to the outer edges of the Twin Cities. Buyers are finding out that many of the bargain priced or bank owned lots in the suburbs were bought in the early stages of the housing recovery. The exurbs have again become attractive for family’s willing to trade of a longer commute to the Twin Cities, for greater home affordability and larger lots.
Full Article-Feyder, S. (2014, January 13). Exurbs greet housing rebound with caution. Minneapolis StarTribune.
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