Minnesota is entering into a critical spring for home sales. The next two months should determine whether we will come out of this slumping market. Historically the best time to sell a property in the Twin Cities metropolitan area market is the 3 month period from March to May.
Should we remain in a down market, there could be some major market players in the Twin Cities market going to "plan B". The squeeze seems to be on, as many realtors, builders, loan officers, etc. are suffering from a lack of purchase agreements.
My personal feeling is that we will see some market activity this Spring, but it will be shortlived. The market will bottom sometime in November / December 2007.
As the CEO of DR Horton says, "2007 will suck".
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