As many of us in the industry expected, the housing market has been exceptionally cool since the tax credit expired. Buyer activity has fallen drastically in May, due mostly to a rush to buy before the April 30th deadline. However, I firmly believe another tax credit would prolong the recovery, so although the market is…read more
I found this article interesting. Building permits are up in the Metro Area. Is it a sign the worst is behind.. tought to gauge right now but I’m caustiously optimistic the construction industry is turning the tide. http://www.finance-commerce.com/article.cfm/2010/03/27/Twin-Cities-area-homebuilding-advances-in-March
New-home buyers responded to the tough times in 2009 by opting for smaller houses, driving down the average size of a house built in the United States for the first time in 27 years. Data recently released by the National Association of Home Builders (NAHB) found the average size of a new home that was…read more
Homebuilding activity in the Twin Cities declined for the 6th consecutive year. This past year a total of 4,405 new housing units were constructed, a slight decline from the 4,405 units built in 2008. During the heyday of the real estate boom, the Metro Area peaked at over 19,000 units in 2003! Builders did see…read more
According to year-end numbers from the Minneapolis Association of Realtors, 2009 performed better than 2008 on most fronts. Closed sales increased, new listings were down, however the median sales price decreased by about 15% to $166,000 – the lowest level since the year 2000. The increase in sales and the decrease in the median sales…read more
Twin Cities home-prices climb in September; growth leads nationwide survey – Minneapolis / St. Paul Business Journal:.
Weekly Market Activity Report Did you get all your screams out over the Halloween weekend? Well here’s a scary thought to keep you in the Halloween spirit: we’re running out of homes to sell in the lower price ranges. For the week ending October 24 there were 926 signed purchase agreements, up a monstrous (get…read more