I thought I would put out a few market statistics for you this morning from the Minneapolis Area Association of Realtors.
The mix of homes selling is slowly starting to change which has translated into the smallest price decline since October 2010. Subsiding price declines are a sign of market rebalance.
More people signed purchase agreements in February 2012 than during February 2006 and every February thereafter.
3,756 – the number of home buyers in the 13 county Twin Cities metropolitan area who entered into purchase agreements during February.
Asking price – the seller side of the equation continues to improve, but slowly. For the 7th consecutive month, sellers received more of their asking price than in the year prior.
Likely factors for are the low interest rates, affordable prices and the warm winter.