When discussing market trends, Burton reveals a surprising nuance.
“Traditionally, higher-end homes would be closer to the city,” he said. “But in the Twin Cities, that’s not the case. The higher-priced homes are in the suburbs, or located on lakes, or acreage.”
The eastern suburbs near Saint Paul have seen an explosive transformation. “It was farm fields five years ago,” Burton said. “Now, there are quite literally thousands of homes. It’s pretty cool.”
Government-backed mortgage products are also seeing a revival. “During the COVID boom, buyers couldn’t win with government financing offers,” he said. “But now, with less competition, sellers are more willing to consider FHA, VA, and USDA loans.” For many, this shift is a long-awaited lifeline.
One strategy gaining traction is the temporary buy-down, which Burton describes as a practical solution in a high-interest-rate environment.