ST. PAUL, Minn. (AP) — U.S. Census Bureau figures released Thursday show fewer people are moving to Minnesota.
The number of people moving to the state has declined 19 percent since 2006. Metropolitan Council research manager Libbing Starling says people have been reluctant to sell their houses and pick up and move. Starling says many are skeptical that “the grass is greener in another place.”
Minnesota’s unemployment rate is 7.2 percent. That compares with a national rate of 9.1 percent. With fewer people moving to the state, there’s less competition for housing.
Minnesota Association of Realtors executive Chris Galler tells the Pioneer Press that without demand, housing prices have declined. The average price of a house in Minnesota is 6 percent lower than last year.
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