The Twin Cities real estate market has been hot and is closing in on a record year of sales, despite a tight supply of homes for sale. The annual seasonal slowdown as we move into winter may be benefitting the buyers still in the market place. Twice as many homes for sale had price reductions in August (20% of listed homes in August had price reductions) than in the past spring. The homes of the bottom tier have been far less likely to see price reductions than the upper tier.
Full Article-Buchta, J. (2017, October 7). For the moment, at least, some Twin Cities home sellers are being forced to cut prices. Minneapolis Star Tribune.
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