minnesota housing 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)
minnesota housing 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)
I was watching a Celtics/Lakers game when a commercial came on for a financial services firm. I was barely paying attention, but then I saw the phrase: "Time; Not Timing". Great advice.
Markets will always cycle up and down and their complexities make the timing difficult to predict. Real estate has real value, and with inflation engineered into the economy, it is destined to keep pace (upward) over the long term.
A critic once told me that stocks provided a better return than real estate, … (4 comments)
The 2007 statistics for the Twin Cities real estate market were released at a press conference by the local real estate associations on January 16th, 2008. The highlights were as follows:
Listings processed, 105,004, down 2.8% Sales, 40,055, down 16.4% Inventory of homes for sale at year end, 26,675, up 16.8% Average sale price, $274,767, down 1.3%
For excellent, detailed reports on the market, go to the Minneapolis Association of Realtors website: http://www.mplsrealtor.com/Segments/Realtors/Research.htm
It was a disappointing year for many, but important for the long term health of the market. No one likes to see prices drop, but after ten years of rapid appreciation we need … (0 comments)
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