@@tlindhart That is totally valid. A couple of things to remember though. First is to really only purchase a property if you intend to be there for 7+ years. That should be enough time to weather any downturns in the market. Second, the current inventory is so low that most industry leaders suggest that demand will outweigh supply for the next 5-8 years. There is insufficient data to support a housing downturn.
Woodbury remains a highly desirable area of the Twin Cities. Newer developments and the commercial growth is very attractive to many people looking to move into their next home. You are right. For Single Family Homes, Previously Owned, and Traditional Sale, the growth from Jan. '20 is just over 18%. If you add in New Construction, it goes even higher due to building costs rising so quickly over the last year. Unfortunately, there doesn't look to be much relief in terms of home prices. Demand remains high, and inventory is exceptionally tight. With interest rates climbing, it may slow the growth.
