Created: May 01, 2021 04:13 PM
MINNEAPOLIS - Home sales in the Twin Cities are soaring, even as sites to build homes are in short supply, the cost of materials is soaring, there’s a lack of skilled subcontractors and prices are going through the roof.
The Star Tribune reports that the median price of a new house in the Twin Cities has risen more than $4,000 each of the past three months. Builders are struggling to balance the surge in demand with volatile costs.
Some are putting a lid on sales.
Buyers are being pitted against one another as builders devise unusual tactics aimed at limiting sales.
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