Twin Cities Area Housing Supply Demand Ratio for August 2009
Click on the chart for the 2nd Quarter Short Sale and Foreclosure Housing Report
for the Twin Cities Real Estate Market with information
on Residential Homes for Sale and Recent Market Activity
For your free Minneapolis / St Paul Twin Cities Foreclosure and Short Sale Report on Homes for Sale and the most recent quarter Real Estate Housing Market Activity Report, just click on the chart above. Data provided by the Minneapolis Area Association of REALTORS®, Inc. Sponsored by Royal Credit Union www.rcu.org
The over supply of houses for sale is starting to ease. The number of homes on the market for each buyer is down to 4.88 which is great news, but does this mean everyone is going to benefit across the board?
Well, no. Actually, the supply of homes currently listed for sale in the upper price ranges continues to increase while the supply of homes in the lower price ranges has fallen.
This is due to a several factors: the first time home buyer tax credit has encouraged people to buy their first starter homes and investors have been purchasing foreclosures (buying low so they can sell high later on). At the same time, there have been layoffs and pay cuts that affect the ability of many home buyers to purchase the higher-end homes and many would-be move-up buyers have decided to wait it out and make do with what they have.
The Twin Cities real estate market is changing each and every day... Check my blog often to get the latest information or contact me if you have questions about YOUR neighborhood.
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