Weekly Market Activity Report
Ah, spring: that festive season when a young home buyer's fancy turns to thoughts of warm weather, green grass, new flooring, breakfast nooks and purchase agreements.
Pending sales continue to outperform last year, posting 869 for the week ending March 7—good for a 24.7 percent increase. Of these signed purchase agreements, 56.6 percent were for lender-mediated foreclosures and short sales.
New listings for the same time period comparison dropped by 12.6 percent, continuing a months-long trend of fewer home sellers. Increased sales has combined with decreased new listings to draw down the total inventory of homes for sale. The number of active listings for sale is down 14.9 percent from this time last year to 25,901.
Overall, that twitterpated feeling some may be experiencing now is not uncommon. The snow is finally melting, the sun is shining, and home sales all over the Twin Cities have been growing in strength for nine consecutive months
No comments:
Post a Comment