pmcdermott

The real estate market in the Twin Cities may have cooled, but it is not any easier to find a lot to build on.  The recent increase in home demand has created a bit of a run on desirable lots within the Twin Cities seven county metro area.  Lot supplies are now at lower levels than in the pre-housing boom.  Supply of lots must increase substantially to meet current demand.  If you are looking to build in the Twin Cities start your lot search with MyTwinCitiesRealty.com and Phil McDermott.

Full Article-Buchta, J. (2014, September  5). A slow down in home sales has not made it any easier to build a house in the Twin Cities. Minneapolis Star Tribune.

Retrieved from http://www.startribune.com/

More Twin Cities area homeowners are making the decision to sell their home, but as the supply of homes for sale increases home prices continue to inch up.  Many brokers and analysts see this increase in homes for sale as a sign that the Twin Cities real estate market is improving.  Despite the increases in listings the Twin Cities real estate market is still not considered in balance between buyers and sellers. There is currently a 4.4 month supply of homes for sale at the current pace of home sales.  A real estate market considered at equilibrium would have about a 5 or 6 month supply of homes for sale. Homeowner’s that may be considering listing their home can still benefit from this imbalance and increasing home values, but should probably act soon.  Buyer’s should also benefit from the highest number of homes for sale since June 2012 and historically and low interest rates.

Full Article-Buchta, J. (2014, August 13). Twin Cities real estate rebound reaches- economics defying moment. Minneapolis Star Tribune.

Retrieved from http://www.startribune.com/