Home prices are still going up in the Twin Cities Metro area. If you bought your house in the second half of 2020 or in 2021 it might not be worth quite as much as you paid for it even though the value has gone up.
Multiple offers on homes for sale were very common during that period and often the sale price was well over the asking price. It is quite possible that some home buyers overpaid. Some overpaid by tens of thousands of dollars.
Buying a house and selling it two years later is always an expensive proposition. It won’t take long for the house to be worth t but what was paid for it. Expect to own the home for at least five years, seven to ten years would be even better.
Buying a house is not the best short-term investment.
