twin cities market: Increasing Supply Will Slow Market Rebound
- 04/26/10 10:05 AM
Discussion about real estate markets usually tends to focus on prices. And the Twin Cities market has had encouraging price news this year. After three and one half years of declining prices, we've now had three consecutive months of increases in the median price compared to a year ago. But price trends usually follow supply/demand trends, and while most of us have been talking about prices, an important supply development has taken place.
An important factor leading to the three years of price declines was a multi-year build up in supply of houses for sale. The supply peaked at … (1 comments)
twin cities market: Did I Say Recovery?
- 02/14/10 11:37 AM
So the Twin Cities real estate market has finally posted a year over year price increase for the first time in 41 months this January. Certainly good news but let’s not break out the champagne yet. The recovery/rebound…whatever you want to call it, is a long process and this is just another sign that we are going in the right direction as opposed to a destination we’ve been seeking. The price increase means that the median price of this January’s sales was higher than last January. Key point: this year’s sales are different houses than last year’s sales. 2009 started … (0 comments)
twin cities market: Signs of the Bottom
- 11/24/07 07:53 AM
We are often asked if it's time to buy yet. Has the market hit bottom or is it still falling? The simple answer is: If you are ready to buy, now is a good time. "Maybe you're right Pat, but isn't that what you Realtors always say?" Perhaps, but then we're usually right. "Do I detect a hint of arrogance?" I prefer to call it confidence, but bear with me here.
In every market there are a number of fairly priced properties, some bargains, and some over priced dumps. Now is no different, except with a higher inventory and a number of … (0 comments)
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