The year ended better than I had hoped for. Not only did we break the 20,000 mark for listing inventory, we dropped substantially below that mark to 18,666 Listings.
The final figures are not in yet for December and 2011 yet. We should those figures released next week. I am anxiously awaiting the official Absorption Rates for December – I suspect we may be close to dropping below a 5 month supply of homes, next weeks report will tell us more…
We may continue to lose inventory for another couple of weeks, but then we will begin to add inventory as the Spring Market begins to gear up. The question will be is if Pending Sales continue to increase to meet the new supply in inventory.
We still are facing strong headwinds from the economy, employment as well as 2 potential game changers. 1) Shadow Inventory (how big is it, and how quickly will it hit us..) 2) Dodd-Frank Regulations take effect in 2012. I have no idea what kind of impact we can expect from that, I haven’t been able to keep track of all the new regulations. On the right sidebar there is an RSS Feed of the new regulations they keep pushing out – you will have to scroll way down to get to the Dodd-Frank RSS feed. (If someone knows about these, please comment – it would be nice if we could get a clearer understanding of what is happening here.)
Here is our current inventory chart, enjoy this – I don’t know how it will look in a couple of months… This is exciting to see these low inventory levels.
Read Full Report from MAAR
- Twin Cities Weekly Real Estate Market Update week ending Dec 17 2011 (craigkamman.com)
- Twin Cities Real Estate Market Report – Week Ending August 20, 2011 (johnmurphyreports.com)