Minneapolis Area Association of Realtors Weekly Market Report shows continued increase in demand and more declining inventory. This week the market dipped under 17,000 homes for sale to 16,982. This is a mile stone in my opinion, this is inventory numbers we haven’t seen since 2004.
In the Twin Cities region, for the week ending August 11:
• New Listings increased 2.0% to 1,387
• Pending Sales increased 31.2% to 1,149
• Inventory decreased 29.6% to 16,982
Read Full Report from MAAR
What struck me in this weeks report is how the demand continues to increase, a sign we may have a very interesting Parade of Homes this Fall. Below shows us Pending Sales are up 31.2% over last year. If this continues through the fall, the market might get really interesting!