Our local good news starts with a three year low in the Minnesota unemployment rate, now at 5.7%. The number of jobs added in 2011 has helped sustain a moderate growth pattern. Click here for more local unemployment details. On Jan. 25, 2012, the Federal Reserve stated that the plan is to keep short term interest rates flat through 2014, supporting household spending and encouraging business and housing sector recovery. More local good news, along with mortgage rates being at all time lows, showings on homes are UP! We are seeing January showing levels for residential homes in the St. Croix Valley at levels we normally see in a spring market, an increase from January 2011 of about 35%. While housing has been considered an investment option for many of our portfolios, the plain and simple fact is that it is a necessity for all of us. Changing family dynamics will continue, and making smart housing choices will continue to impact us for years to come.
