Here's a quick look at the market place from Mpls Area Association of Realtors.  The good news is RATES ARE GREAT:   3.125% on a FHA 5 yr ARM,  4.375% on a FHA Fixed, &  4.5% on a 30 yr Fixed Conforming.

Weekly Market Activity Report
For the week ending November 20, Pending Sales in the Twin Cities metropolitan area declined by just 4.1 percent from year-ago levels, marking the second week in a row where this year's sales figures closely match last year's numbers. There were 579 pendings for the week, and we have kept pace at about 600 sales per week for the past six months.

At 1,159, New Listings were 1.3 percent below 2009 levels. This year's listing activity has occasionally strayed from last year's trend line but has, for the most part, tracked along a fairly similar path.

As expected, the year-over-year inventory gains have been tapering off. As of November 29, the 24,423 active listings were 9.6 percent fewer than last year at this time. That's the third consecutive week of decreasing inventory gains. This metric does a great job of illustrating the buyer-seller balance as the market prepares for hibernation.

Monthly Skinny: November 2010

Here's a short 3 minute video from Mpls Area Association of Realtors.  There is a little good news in the housing market (current listings are down 13% from 2008) & while there isn't a dramatic recovery, things are, as one of my favorite singer songwriters Shawn Colvin said, "Steady On".  Have a great weekend!

Below is the Weekly Update from Minneapolis Area Association of Realtors.  Unfortunately, it states that there are now 11 homes on the market for each buyer.  That's a pretty high Home/Buyer ratio.  Normally, I like to see 5 or 6 homes on the market for each buyer.  Unfortunately though, I don't control the market, just blog about it.  Stay warm during these November days. 

Weekly Market Activity Report
For the week ending November 6, the pending snow outlook worsened as the Pending Sales outlook improved. The 619 signed purchase agreements in the Twin Cities metropolitan area marked a 16.0 percent drop from the same week last year. That's the smallest decline since the week ending May 8.

We do need to add some context to that piece of good news. We are not seeing an increase in sales activity this year so much as sales began to decline at this time last year. The post tax-credit demand vacuum will lose suction during the winter months but will likely reappear this spring.

Potential sellers had a relatively busy week, listing 1,399 new properties on the market for a 10.6 percent increase over last year. That's the first significant increase in New Listings since the week ending April 24.

Although inventory levels were 11.3 percent higher than last year at 25,257 active listings, the rate of increase appears to be slowing. The Supply Demand Ratio has reached 10.82, its highest level since December 2008. This means there are currently about 11 homes available per buyer.

Here's a Weekly Update from Minneapolis Area Association of Realtors.  I post these weekly, so my clients can see how the Twin Cities Housing Market is doing.  As you can see, it's pretty bleak.  Buyer demand has dropped since the expiration of the tax credit in May, 2010 & while listings aren't as high as they were a few years ago, they are creeping upward in number.  Since Real Estate is all about Supply & Demand, this doesn't bode well for Sellers.  I hate being the bearer of bad news, but it is what it is.  In any case, enjoy this fine November weather.

Weekly Market Activity Report

For the week ending October 30, New Listings in the 13-county Twin Cities metropolitan area were up 0.4 percent over last year to punch in at 1,266 new units. That’s the first time seller activity has outpaced last year’s levels since the last full week of April.

Buyer activity wasn’t quite so fortunate as Pending Sales were down 29.9 percent over the same week last year. But that’s a major win in its own right. The 579 signed purchase agreements mark the smallest year-over-year decrease in housing demand since the first week of May.

Inventory continued its ascent. As of November 8, the 25,629 Active Listings weighed in 12.0 percent heavier than last year. This metric has been steadily climbing since early June and should continue to be monitored closely. It means increased competition among sellers and more options and leverage for buyers.

Weekly Market Activity Report
Pending Sales in the 13-county Twin Cities metro experienced its smallest decrease since the end of May. The 611 purchase agreements signed for the week ending October 23 were 34.0 percent fewer than the same week in 2009. While still in the red, it’s not to the extent we’ve seen the past few months.

Seller activity held fairly stable at 1,303 New Listings for the week. This made for an 8.9 percent dip from last year’s levels and was roughly on par with the 7.8 percent average decline over the past three months.

Inventory is still high. As of November 1, it stands at 25,706 Active Listings, an 11.5 percent jump since last year at this time. The pace of inventory activity should continue to decline as we step toward winter.