It's a hot spring forTwin Cities home sellers. It is not unusual for home sellers to receive more than one offer and more than they were asking for their homes. Demand for houses is high.
Inventory is low.
And buyers are desperate, particularly for starter homes. Such competition is the reason that Minnesota was the state with the second highest increase in home prices in 1999, according to the Office of Federal Housing Enterprise Oversight. Nationally, Minnesota ranks in the middle in terms of home prices and affordability, but prices last year rose 11 percent.