Weekly Market Report for Minneapolis Real Estate

By
Real Estate Agent with Luke Team Real Estate

Weekly Market Activity Report

Housing activity for the week ending January 2, 2010 took a predictable surge upward following the holiday break. New listings rose to 688 for the week-down 37.3 percent from a year ago-while pending sales posted a number of 378-down 11.7 percent from a year ago. We will likely have to wait another week for all the holidays and frosty weather to get flushed from our year-over-year comparisons to get a full understanding of where our market is headed.

A few additional stats for the New Year:

Housing Affordability continues at historic levels: rising to 208 for January, an 8.3 percent increase from the previous year and a good sign for buyers in the year to come.

The Months' Supply of Inventory is back in balanced market territory at 5.0 months. This is a dramatic 34.2 percent under the supply at the beginning of last year.

With a balancing supply and demand and the possibility of rising interest rates on the horizon, this is a unique opportunity time for Twin Cities' home buyers.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Minnesota
Groups:
Lead Generation through community websites
Tags:
weekly market report for minneapolis real estate

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
31,149

Brad Anderson

Ask me a question
*
*
*
*