Monday, December 21, 2009

Weekly MAAR Market Update

What a crazy weekend!

The Vikings learned that they are not invincible and the Wild loosing to Ottawa after loosing their equipment to a fire, it was a red letter weekend for MN! Thanks goodness that we don’t live on the East Cost (sorry New York).

We did get some good news this week from MAAR in regard to our weekly market update.
At 5.7 percent, this is the lowest Months Supply of Inventory in more than two years and a full 32.9 percent below last year. The higher price points are still Buyer’s markets however the general price points are turning for the Seller’s benefits.

Now that the Thanksgiving Turkey coma has worn off, a push is in effect for the Twin Cities housing market. The week ending December 5 saw pending sales swing upward from the previous week by 152 to settle at 551.

This is 7.7 percent less than last year at this time, marking the third week of the last four to post pending sales numbers lower than a year ago. The aftermath of the tax credit’s initial expiration date is combining with the typical holiday slowdown to bring sales down.

For the full report visit - http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf

4 more shopping days--- are you ready?

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