This week's market report from the Minneapolis Area Association of Realtors indicated that sales continue to be ahead of last year and new listings continue to be behind last year…resulting in a dimishing supply of homes for sale. In fact, there are now fewer than 5 houses on the market for every buyer.
We have been hearing about a seller's market with a big supply of homes available for sale for so long, it can be hard to comprehend that the tables are now turning in many price ranges…at least for houses. If you are a first-time homebuyer time is also soon running out to cash in on the $8,000 tax credit…you must close by November 30, 2009, which means you only have 2-3 months to find a home and close in time.
Their report suggested that "the window is quickly closing for those wanting to get into a home under ideal conditions."
Sharlene Hensrud, RE/MAX Results - Email – HomesMSP.com
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