Minneapolis Area Association of Realtors Weekly Market update report shows inventory continuing to drop.
In the Twin Cities region, for the week ending July 7:
- New Listings decreased 21.9% to 970
- Pending Sales increased 24.6% to 892
- Inventory decreased 30.8% to 17,134
Read Full Report from MAAR
This weeks report shows the New Listings decline as it should seasonally. If buyer demand continues to remain strong through the fall we are going to in for more multiple offer situations. If that happens – we will see shorter market times and see prices begin to rise noticeably.