Current Market conditions improve

Let's take a trip in the WABAC Machine (proncounced "wayback") to see what our current market landscape looks like compared to years past.

• The 1,026 signed purchase agreements for the week ending August 15? That's the most since 2005.
• The 25,765 active listings for sale? The fewest since 2005.
• The 1,630 new listings? Fewest since 2002.

In other words, buyer activity is growing and supply is shrinking. There are fewer homes available per buyer than at any point since 2005, and inventory should only continue to tighten through the remainder of the year.

(this is an exerpt from the MAAR Weekly market activity report for 8/24/2009)

Mark Allen, RCE, CIPS, CRS

Chief Executive Officer
Minneapolis Area Association of REALTORS®
(952) 988-3134
www.mplsrealtor.com


Posted by Cheryl Schopf on 08/31/2009
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