Twin Cities homes sold at a record pace this June. Closed and pending sales reached ten year highs and homes sold in an average of 66 days on the market according to the Minneapolis Area Association of Realtors. The climate for buyers has been excellent as low interest rates and wage growth increased home buying activity. Buyers have also been motivated by the threat of higher home prices and rising mortgage rates. Sellers have also benefitted from this increase in activity with many experiencing multiple offers, increased sales prices, and shorter time on the market. It’s a great time to be in the real estate market.
Full Article-Buchta, J. (2015, July 14). Motivated buyers help spark a record pace for home sales. Minneapolis Star Tribune.
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