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January 2012 Twin Cities market overview
It’s been a while since the words optimism and housing appeared together in the same sentence, but analysis of the market over the past five-six months has us believing they should.
According to the Minneapolis Area Association of REALTORS® (MAAR), January sales were up 25.5 percent over last year, the highest January sales figure since 2005! Additionally, January saw the lowest inventory of homes for sale since 2003. Another sign of balance in housing is the months’ supply of inventory, which is at a six-year low of 4.6 months. That means it would take fewer than five months for the current inventory of homes to sell at the present rate of sales.
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