The Minneapolis Association of Realtors just recently released the 2008 Real Estate Market Actitivity Report, click here to view all the stats for the past year. See how they stack up to years past.
Dig a little deeper to find some rich, meaty data that tells the whole story. The area that of course stands out the most is lender mediated sales compared to traditional home sales. Single family homes that were lender mediated had a decline in median price of 18.3% versus tradtional sales of 3.3%.
It just goes to show that financial institutions are throwing heavy discounts to move inventory. Traditional home sales haven’t taken that big of decline when you don’t combine both types of sales together. Everybody always takes a look at the big picture, diesect the data a little bit and take it for what it is worth.
