Twin Cities 7 County Market Update
Great news for the real estate market in the 7 county Twin Cities area. The current dinventory of homes on the market for sales has risen by 1.2% over the previous week which brings us now to a 20.3% increase since the first of the dyear. Where is the in these numbers? it is in the facts that in the previous 4 years historically the inventory levels had risen by 35%. So, you see that is the good news. Also, historically the next 5 weeks represent the most productive weeks for real estate activity of the complete year. This is in terms of properties leaving the market as a result of signed contracts. Our Months Suppy Inventory MSI is the best Mortgages are helping with the progress as FHA loans have come back into favor. Most first time home buyers are strongly looking at the FHA option as they require as lttle as 3% down payment and make it easier to get into these mortgages rather than all the junk arms peole were getting a few years ago just to qualify. FHA has also increased the limits of a FHA home loan. For more information go to Minneapolis Real Estate Information Statistics provided by Steven Rall of Keller Williams
it has been since July of 2007 with 9.3 month
MSI. In December the MSI was as hgih as 13.9 MSI. So you can see we are making progress.
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