The market recovery in real estate is continuing in the Twin Cities. As I have been posting, sales are up, prices are up and inventory is down all helping start the market recovery. Take a look at this article from the The Skinny for some interesting statistics! The Skinny has numbers on sales, prices, inventory, distressed properties and more!
According to Inman News, the Twin Cities made the top ten first time home buyer market list. The following are the 10 prime markets for first-time home buyers, ranked by highest share of first-time-buyer FHA loans as a percentage of total sales in 2011:
1. Wilmington, Del.-Md.-N.J.
2. Charleston, W.Va.
3. Visalia-Porterville, Calif.
4. Merced, Calif.
5. Fresno, Calif.
6. Hagerstown-Martinsburg, Md.-W.Va.
7. Modesto, Calif.
8. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
9. Atlanta-Sandy Springs-Marietta, Ga.
10. Camden, N.J.
The market report from the Minneapolis Association of Realtors shows that for the week ending March 24,
• New Listings increased 2.2% to 1,414
• Pending Sales increased 30.2% to 1,052
• Inventory decreased 27.3% to 17,193
This shows what I have been writing about the past weeks, sales are up, inventory is decreasing. It is still a buyers market but not as much as in previous years. For an overview of all the stats, click here.
The March Monthly Skinny will tell you where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity.