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Home sales booming in Twin Cities area

Home sales are booming in the Minneapolis-St. Paul area.

Posted: May. 26, 2018 6:55 PM

ST. PAUL, Minn. (AP) - Home sales are booming in the Minneapolis-St. Paul area.

Minnesota Public Radio News reports that real estate experts say they haven't seen properties sell this fast in the area since the 1990s. But while it's a great time to be a seller, buyers are facing increasing pressure when making offers - half of all properties are selling above asking prices.

Newlyweds Sammi Nachtigal and Keagan Ringling eventually found a home, but had trouble along the way. The couple says they put in an offer on a different house weekly for a month. But despite offering $15,000 above asking price with 30 percent down, they kept getting denied.

Realtors don't expect things to get easier as interest rates and inventory continue to stay low and demand remains high this year.

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