Pending Sales up 34.6% over Last Year!

The Twin Cities housing market experienced its annual pre-
Independence Day drop in activity as fireworks, barbeques and lake
cabin excursions preoccupied the minds and schedules of many Twin
Citizens. New listings took a steep dive prior to the holiday, dropping to
1,482 for the week ending July 4. This is an 8.3 percent decrease from
the same week in 2008. Full Report Click Here!
Pending sales also dropped to 989 for the week ending July 4.
Fortunately, this stat is still a healthy 34.6 percent above where it was
last year, when there were just 735 pending sales reported.
Further metric watching:
Housing Affordability Index – 192. While astoundingly high, it has
dropped since January due to price rebounding and higher mortgage
rates.
Months Supply of Inventory – 7.3. This is a 31.1 percent decrease from
the 10.6 figure posted last year at this time.
The market is showing signs of slowly moving back towards balance.

If you are looking to buy or sell, please call and I can help you out! 612-308-4708 Or click here to email me anytime! Remember 1st time home buyers receive $8,000 back when purchasing a home prior to November 1st 2009!