One of the most important mid-term elections of our life-time is Tuesday November 6th….so please get out and vote! I have reposted an interesting article from Realtor.com comparing the housing market by county and by political leaning. Interesting read. Red vs. Blue America: How the Nation’s Real Estate Divide Could Determine the Midterm Elections By…read more
As we have previously stated in other recent posts, the supply of homes for-sale is at all time-lows; here in the Twin Cities and across many markets in the U.S. This lack of inventory has driven up housing costs as buyers have fewer options and homes are selling with multiple offers. This past week alone;…read more
The number of homes for sale in the Twin Cities remains at historically low levels as inventory remains extremely low, especially for first-time home buyers seeking homes under $250,000. At present, there is only a 1.8 month supply of homes for sale in the marketplace whereas market equilibrium is generally considered six months of inventory. …read more
As we have discussed in other recent posts; the supply of homes for sale has been extremely tight in the Twin Cities Metro Area. Based on the current sales volume, the supply of homes for sale would only last 1.9-months, whereas a balanced market would have a supply of six months of homes for sale. …read more
The Twin Cities real estate market has witnessed a fundamental shift over the past few years from a buyers to sellers market. Inventory (i.e. the supply of homes) continues to remain very low which has resulted in price appreciation and few days on market. In 2016 the median days on market was only 33 days,…read more
The Twin Cities condo market, in particular Downtown Minneapolis, is red hot as the inventory is nearly non-existent. A review of all condo listings in the Downtown Minneapolis area shoes there are only 76 active listings in Downtown and in the surrounding neighborhoods such as the North Loop, Loring Park, northwest Minneapolis, etc. These listings…read more
Ten years after the peak of the real estate boom last decade, home prices in the Twin Cities have peaked exactly 10 years later. 2006 was generally the peak year in the real estate boom for most Twin Cities communities and the overall median sales price for 2006 was around $232,000. This past month the…read more
The Twin Cities real estate market continues to favor sellers; due in part to the low inventory of homes for sale. In a normal market, there should be a supply of homes for about 5 to 6 months; however many markets are experiencing extremely low home inventories which as resulted in transactions that are favoring…read more
Every year I’m asked what’s in store for the next year? Although I can’t predict the future (or I would be playing the lottery!) I predict 2015 will continue last year’s positive momentum. Most economists agree that the Federal Reserve will raise interest rates in 2015; when though it is unknown. We should continue to…read more
Good news for home sellers and existing home owners; the foreclosure crisis in the Twin Cities Metro Area continues to dwindle. Foreclosures accounted for only 12% of the resales in June 2014; this compares to 26% of all transactions in 2013 that were distressed sales. In fact, between 2009 and 2011 about one-half of all…read more
