Urban Lifestyle | Better Homes & Garden Area Leaders
Twin Cities home prices have appeared to make a little turnaround on a metro wide. 12 straight months of year over year increased pending home sales is definitely a strong sign according to a report by the Minneapolis Association of Realtors. From press release: After increasing by $12,000 from April to May, the median sales [...]
Cheap interest rates and tax credits along with numerous buyer programs have help spur the largest increase in pending home sales since October of 2001. A rise in 6.7% to be exact. From the NAR release The Pending Home Sales Index in the Northeast shot up 32.6 percent to 78.9 in April and is 0.8 percent [...]
Shadow inventory, what is it? Homes or inventory that hasn’t hit the market yet. Sure pending home sales are on the rise and inventory might be tightening up, but banks have been holding onto properties. Making sure they don’t flood the market. Remember that/those foreclosure moratoriums that were set into place by different lending institutions? [...]
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 [...]
Twin Cities home sales are showing some strong signs of life. Home sales increased by 21.3% and very quietly on a 10 month streak of increased sales. Median sales prices are down 22.9% since last year but you can’t look at the big picture, prices are distorted heavily because of all the short sales and [...]
The news is good for certain segments of the market. Single family homes in the Twin Cities are moving around the $200k mark. Homes in the upper bracket price points, good luck. Single family homes are selling faster than a year ago, with a big reason being the declines and homes being more affordable to [...]
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