Well, I just returned from a quick trip to sunny AZ and have had a busy week, with two sales & a wrap up of an inspection on a 3rd that sold right before I left.  Inventory levels are low at a little over 12,000 properties on the market.  A balanced  market is 20,000.  So if you're thinking about selling, let me know. I'm happy to give you a free pricing analysis for your home.  Here's the latest update from Mpls Area Association of Realtors.

 

As we hit February, mortgage rates continue to remain low, bringing about a high dosage of optimism to the market. While some reports attempt to dissect drops in builder confidence with a negative-bent attitude, low rates seem prepped to steer potential buyers toward getting their own set of house keys, curbing the pessimism of market naysayers.

In the Twin Cities region, for the week ending February 14:

• New Listings increased 12.1% to 1,298
• Pending Sales increased 15.6% to 920
• Inventory decreased 3.7% to 12,410

January, 2015 Market Numbers

We finally got a little snow yesterday and that freshened things up.  However, inventory levels still remain extremely low (only 12,149 homes compared to about 20,000 that we like to see).  If you're thinking of selling or know someone who is, NOW IS THE TIME.  Here's the latest from the Mpls Area Association of Realtors.

 

Up, down and all around, mortgage rates and regulations will likely be hot topics this year. Rates should stay low through 2015, but consumers and finance experts believe we're at or near rate bottoms. The implication of low rates should be that more people will be able to reach homeownership status in the coming year, but it will be interesting to see if regulatory standards loosen up or tighten further based on buyer demand.
 

In the Twin Cities region, for the week ending January 24:

• New Listings increased 15.8% to 1,058

• Pending Sales increased 3.1% to 675

• Inventory decreased 6.4% to 12,149