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
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