According to the weekly marketing report put out by Minneapolis Association of Realtors, pending sales show little sign of slowing down. Posting a fourth straight week gains, year over year. Home sales have also been over 1000 pending sales during this streak, a number like that hasn’t been seen since 2006.
As buyers jump off the fence and take advantage of low interest rates, $8000 tax credit and affordable home prices not seen in years… it is nice to see a little bit of optimism against all the doom and gloom. Will be quick to say that this is no way a recovery, but nonetheless it is good to see encouraging signs.
The National Association of Realtors released their findings showing that pending home sales had risen 3.2% across the board against flat expectations.
Inventory has been floating around 26,000 active listings compared to 32,000 last year and buyers have certainly noticed. Yesterday at a open house, a home buyer was quick to point out about inventory in a particular price point is hard to find in a certain area. It is also an encouraging sign seeing so many active buyers out looking at open houses, it wasn’t just last weekend either, certainly a trend gaining some momentum.
It will be interesting if this trend holds steady or if the it tapers off as the busy spring season comes to an end in a month.
As an active home buyer in the market, what are you seeing in the Twin Cities real estate space? A wide variety of homes to see, more bank owned homes vs traditional home sales, or
images used from MAR Weekly Market Activity Report
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