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One of the few houses currently under construction in Faribault is on the corner of Ivy Way and 14th St. NE. (Thomas Neuger/

With interest rates and inflation on the rise, overheated housing markets across the country started to cool off last year. Yet with demand for available housing still far outstripping supply, the local housing sector remains extremely competitive.

Andrew Deziel is a freelance writer. Reach the editor at

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