Sales, prices and inventory are holding pretty steady compared to the last couple months… but also going up compared to previous years.
For instance, pending sales rose dramatically through May… holding steady in June-July-August.
However, when you look at August figures since 2006, it is the highest it has been any year… with significant increases every year since 2010.
Total inventory of homes available for sale is still incredibly low, with steady sales keeping the months supply of inventory low at 3.6 months… it is still a strong seller's market.
Even though total listings are low and new listings are taking their traditional slide down after peaking in May…
Traditional sellers are getting back into the market as the number of foreclosures and short sales drop.
The figures above are based on statistics for the combined 13-county
Twin Cities metropolitan area released by the Minneapolis Area
Association of Realtors, with the historical chart coming directly from them.
Never forget that all real estate is local and what is happening in
your neighborhood may be very different from the overall metro area.
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