Minneapolis Area Association reports continued improvement in their weekly real estate market update.
Continued fewer new listings combined with increased pending sales brings the inventory down to 17,384. Keep in mind, out of the 17,384 homes for sale – a good percentage are actually under contract in short sales waiting for bank approval. These are not marked pending until the banks approve the short sales. So the real figure may easily be under 15,000 which would be back in line with 2004 inventory levels.
In the Twin Cities region, for the week ending April 14:
- New Listings decreased 9.5% to 1,637
- Pending Sales increased 25.5% to 1,170
- Inventory decreased 27.8% to 17,384
- Twin Cities Weekly Real Estate Market Update: April 16 2012 (craigkamman.com)