Home sales in the Twin Cities have fallen from a year ago. This is not due to a lack of demand, but from a lack of homes for sale. In nearly every other measure of the real estate market has indicated continued strength.
Full Article-Buchta, J. (2018, March 16). Lack of affordable homes pulls down Twin Cities’ February closings. Minneapolis Star Tribune.
Retrieved from www.startribune.com
It was the best March for home sellers in the Twin Cities since 2005. For many buyers the market has become frustrating as supply still lags behind demand for entry level homes. Home sales prices have continued to climb and market times have decreased.
Full Article-Buchta, J. (2017, April 17). March home sales in Twin Cities were best since 2005. Minneapolis Star Tribune.
Retrieved from www.startribune.com
Home sellers are needed to even out the Twin Cities real estate market. A lack of supply of homes for sale has slowed sales activity, but boosted sales prices for home sellers. Entry level homes and homes in the first ring suburban homes are in the highest demand. New reports on the Twin Cities housing market cite the increased amount of homes held by investors as rentals as a factor in the short supply of single family homes for sale.
Full Article-Buchta, J. (2017, March 15). With fewer homes coming on the market, sales leveled out in the Twin Cities last month. Minneapolis Star Tribune.
Retrieved from www.startribune.com
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.
Retrieved from www.startribune.com
The Twin Cities housing market enjoyed one of its best months in almost a decade. Median sales prices were up 10% from a year ago and 30 year mortgage rates are still under 4%. Home buyers are out in numbers this spring with demand outpacing the supply of homes for sale in many areas. The Twin Cities spring real estate market is definitely in full swing. If you are interested in buying or selling a home check out MyTwinCitiesRealty.com and contact Realtor Phil McDermott today!
Full Article-Buchta, J. (2015, May 12). Twin Cities home sales surge due to low rates, higher home prices. Minneapolis Star Tribune.
Retrieved from www.startribune.com
