A Ray of Economic Hope from Across the Border - Minnesota Jobless Rate Drops in October

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Real Estate Broker/Owner with Madeline Island Realty 50317-90

 

A Ray of Economic Hope from Across the Border - Minnesota Jobless Rate Drops in October

 

The Minneapolis Star Tribune reported Thursday that the jobless rate in Minnesota fell .5% in October, from 6.9% to 6.4%. 

Why is this good news for home sellers on Madeline Island?

Because over three-fourths of prospective buyers in our zip code (54850) come from the State of Minnesota.  A significant majority of Madeline Island second home owners come from the Minneapolis - Saint Paul metro area.

It won't bring immediate relief, but good economic news from a neighboring state can mean more buyers, particularly in a market that is largely recreational and second homes.  And at a time when second home inventory is stagnant, lending is almost nonexistent and buyers are on the sidelines, news like this could mean an improvement in the number of buyer prospects for recreational property in the La Pointe, Wisconsin area during 2012.

 

 

 

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Location:
Wisconsin Ashland County La Pointe
Tags:
minnesota
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Rainmaker
201,181
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!

That is great news....OUr jobless rate dropped into the 8's......

Nov 21, 2011 02:18 AM #1
Rainmaker
424,950
Eric Kodner
Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes - Minnetonka, MN
Wayzata Lakes Realty: Twin Cities, Madeline Island

Debbie, thanks for commenting.  I'm not sure how meaningful the jobless rate data will be in terms of stimulating buying activity, but any positive economic news is bound to bring results sooner or later.

Nov 24, 2011 03:15 AM #2
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Rainmaker
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Eric Kodner

CRS, Madeline Island Realty, LaPointe, WI 54850 -
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