The good news continues to roll in on the Twin Cities housing market. The weekly report from MAAR shows a continued year over year decline in inventory and year over year increase in pending sales.
Can we break the 20,000 mark for inventory? If we keep shedding around 250 listings from our inventory every week, it would take about 8 more weeks to dip below 20,000 listings. When December and January roll around we could see the inventory dip even further. I view this as a major threshold to break through. We haven’t seen inventory below 20,000 since 2004 and it is now with reach, even if only for a while.
- New Listings decreased 14.5% to 1,070
- Pending Sales increased 40.3% to 870
- Inventory decreased 21.6% to 21,930
- Twin Cities Weekly Real Estate Market Update, week ending 10/22/2011 (craigkamman.com)
- Minneapolis/St Paul ranks as healthiest real estate market in the nation, 8% home price increase in 2012 (craigkamman.com)