pmcdermott

There is now an extreme imbalance in the Twin Cities housing market with the demand for homes outpacing the number of homes for sale in the market. There were only 9,200 homes for sale in the Twin Cities metro area in April, which is the first April in decades that house listings have been below 10,000. The shortage of listings has put a drag on home sales and driven up the price of home prices.

Full Article-Buchta, J. (2018, May 23). Twin Cities housing market gets tighter, with fewer than 10,000 homes for sale. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Home sales in the Twin Cities have fallen over 12% in March from a year ago. The inventory of homes for sale in the Twin Cities is 26% lower than last year and sellers are receiving nearly 100% of their asking price. Demand remains high for homes especially in entry level homes or anything under $250,000.

Full Article-Buchta, J. (2018, April 19). Twin Cities home sales plunge more than 12 percent as supply thins even more. Minneapolis Star Tribune.

Retrieved from www.startribune.com

In 2017, Twin Cities home sellers experienced the best year and for home buyers it may have been one of the worst in recent memory. Sellers were clearly in the driver’s seat last year as the supply of homes for sale was at a 15 year low and median home prices hit an all time high. Buyers saw increased prices and competition for fewer listings, especially in entry level homes.

Full Article-Buchta, J. (2018, January 23). Final data show 2017 was a great year to sell a house in the Twin Cities. Minneapolis Star Tribune.

Retrieved from www.startribune.com

2017 was a year to remember for Twin Cities real estate and new construction activity continues to surge at year’s end. Building permit activity has increased with single family homes by 36% compared to last year along with similar growth in apartment construction.

Full Article-Buchta, J. (2017, December 27). Banging hammers and year’s end: Twin Cities new home construction leaps in December. Minneapolis Star Tribune.

Retrieved from www.startribune.com