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Results For Tag: inventory

Effects of Low Inventory

August 16, 2012 |  Article By :   | 

The effects of low inventory in the housing market are helping turn things around.  Inventory has been down for some time now and is helping to spur on the housing market.  Some of the effects are:

  • Days on the market until a sale are decreasing.
  • Prices are slowly starting to rise mainly because of multiple offers with the low inventory.
  • Some sellers that were borderline underwater on their mortgage are now getting above water and will be able to sell without a short sale.
  • Sellers that were just waiting for the market to hit bottom are now considering selling their homes which will add to the inventory.
  • There are less foreclosures and short sales on the market to drive prices down.

So while some buyers may not like the price increases taking place with the depleted home inventory, it is a positive step in helping the market recover.

Twin Cities Market

August 7, 2012 |  Article By :   | 

Inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years.

In the Twin Cities region, for the week ending July 28:

• New Listings increased 8.3% to 1,430
• Pending Sales increased 20.9% to 1,149
• Inventory decreased 30.5% to 17,103

Data from the Minneapolis Area Association of Realtors

Twin Cities Home Prices

July 17, 2012 |  Article By :   | 

According to the Minneapolis Area Association of Realtors Twin Cities home prices were up 10.7% in June!  June was the 4th month in a row for increased home prices and the 17th month in a row for declining inventory!  On the down side, home prices are still 25% below the peak of the housing market in 2006.  See the chart below for a breakdown by county of the Twin Cities home prices.