Residential vacancy rates are low. According to Reuters, US residential vacancies were at 1.9% in the third quarter this year which is that lowest level in the last 7 years. Most real estate advocates see this as positive news for the housing market.
In the Twin Cities region, for the week ending October 27:
• New Listings decreased 3.0% to 1,037
• Pending Sales increased 11.1% to 914
• Inventory decreased 28.8% to 15,700