Real Estate Consulting & Sales | Residential + Commercial

Affordability Waning as New Construction Prices escalate in the Twin Cities

A newly released report by the Housing Affordability Institute stresses what I’ve been researching for year; Twin Cities new construction costs are higher than many other metropolitan areas across the country.  Yes we live in a cold climate that requires increased costs for energy efficiencies; but the underlying factor is it cost more to build…read more

Twin Cities New Construction Among Highest in the U.S.

The Mullins Group is often asked, “why is new construction so expensive” compared to other Metro Areas?  There isn’t one reason; but a multitude of reasons why housing is so pricey in the Metro Area.  A few  of the reasons include:  land costs, Met Council MUSA line, over-the-top building code changes, impact fees from local…read more

Townhomes are back!

After being dormant for years, new townhome construction is once again gaining ground.  Prior to the recession, about 50% of all new construction was in the condominium and townhome sector.  However, the recession and economic slowdown resulted in new multifamily construction to come to a halt.  Single-familily homes dominated at buiders purchased bank-owned lots and…read more

Fed Increases rates while buyer demand remains strong

The number of homes for sale in the Twin Cities remains at historically low levels as inventory remains extremely low, especially for first-time home buyers seeking homes under $250,000.   At present, there is only a 1.8 month supply of homes for sale in the marketplace whereas market equilibrium is generally considered six months of inventory. …read more