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Minnesota is a Leader in Purchase Mortgage Applications

Recent data from FreddieMac’s April U.S. Economic, Housing, and Mortgage Market Outlook presents an intriguing narrative for the residential real estate market. The breakdown of mortgage application growth by state reveals an impressive 14.5% YoY increase in Minnesota, the operational hub for Carpathian Capital Management. This uptick in purchase mortgage applications, set against a persistent shortage of housing inventory, is driving home prices upward in our local market. The rise is particularly notable given that it’s occurring amidst an environment of climbing interest rates, suggesting robust underlying demand. These conditions may forecast sustained appreciation in property values and underscore the strategic advantage of investment in regions exhibiting strong demand growth.

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