Using data from government and industry partners, the dashboard provides a look at housing affordability, access and inventory in Minnesota.
Highlights From October 2022:
- Housing inventory in Minnesota declined over the past month.
- On the existing side, housing supply fell .2 months to 1.7 months. A healthy housing market has 6-months supply.
- On the new construction side, housing production fell into the negative territory relative to state housing goals, bringing Minnesota’s housing deficit to 60,000 units.
- On the affordability front, the median new, single-family detached home price crossed the $500,000 point to $503,796.
- Across the region, Minnesota has the highest median new, single-family detached home price.
- Minnesota’s median new home price is 28.9% higher than Wisconsin, 24.4% higher than Illinois, and 22.3% higher than North Dakota.
