The Minneapolis Area Association of Realtors has just released the statistics for the Twin Cities for the week ending August 31, 2013.
In the Twin Cities region, for the week ending August 31:
• New Listings increased 16.3% to 1,359
• Pending Sales increased 22.9% to 1,243
• Inventory decreased 9.3% to 16,081
For the month of August:
• Median Sales Price increased 16.9% to $208,000
• Days on Market decreased 34.0% to 70
• Percent of Original List Price Received increased 2.0% to 97.0%
• Months Supply of Inventory decreased 18.2% to 3.6
The Minneapolis Area Association of Realtors has just released the statistics for the Twin Cities for the week ending August 24, 2013.
In the Twin Cities region, for the week ending August 24:
Did you know that one in ten home buyers this year have been through a short sale or foreclosure? This number is more than double the number of the same type of buyers in 2012. If people keep their credit in tip top shape, pay bills on time, have a good employment record, and save money for a down payment it is possible to get certain types of mortgages just two to three years after a foreclosure or short sale. The length of time can also depend on the circumstances of the foreclosure or short sale, such as an illness, layoff or death. Divorce is not one of those circumstances that helps. With around 150,000 homes in Minnesota being sold as foreclosures or short sales from 2005 to 2012, that makes for a lot of former homeowners that could get back into the housing market as buyers! If you have been through a short sale or foreclosure and would like to buy a home, contact your mortgage banker to see what your options are.