According to the Minneapolis Area Association of Realtors the market for January 2013 was better than January 2012. This is really no surprise as it was expected. Closings on homes were up 11% and pending sales were up 13.3% in January 2013 over January 2012. The inventory also continued its decline down 32.2% over January 2012 which is also the lowest inventory of homes in the Twin Cities for any month of the year since January 2003!
Traditional sellers are coming back as well. In January 2013, traditional homes were 65.9% of the market up from 56.3% in January 2012 and the closed traditional sales were also up to 57.1% from 44.8% in January 2012.