This summer has been one of my busiest since the market collapse about 7 years ago. Wow, has it been that long. Houses, Townhomes, & Condos are selling if they are in pristine condition and they are priced appropriately. With that said, I have a few listings that are lagging, but I believe it's a pricing issue with those properties. Here's the latest from Mpls Area Association of Realtors.
The stock market has been experiencing a bit of a tizzy of late, but that does not seem to have had huge ramifications for housing. The Mortgage Bankers Association recently reported that mortgage applications and refinancing have both been on the rise, likely in order to get ahead of an expected rate hike by the Federal Reserve. While stock market flux can have undesirable ripples throughout the economy, it appears that housing has remained relatively untouched for the time being.
In the Twin Cities region, for the week ending August 29:
• New Listings increased 13.0% to 1,534
• Pending Sales increased 8.3% to 1,171
• Inventory decreased 13.0% to 16,777
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