Pending Sales Down

The most recent Twin Cities real estate stats show pending sales down over 36% from this same period last year, continuing with the holding pattern of around 600 sales weekly. Weak sales mean rising inventory; there are 27,664 homes available for sale, up 7.4% from a year ago. In August, there will be 8.64 homes available per buyer, up dramatically from the mark of 5.28 seen a year ago. Percentage of Original List Price received at Sale for July 2010 declined from a year ago for the first time in several years, an indication that home prices will remain soft in the months ahead.

Information provided by: The Skinny, Minneapolis Area Assocation of REALTORS

Gina Dumas
REALTOR, ABR, CRS, GRI
RE/MAX Results
www.GinaDumas.com
Gina@GinaDumas.com
612.718.2783

Posted by Gina Dumas on 08/23/2010

Tags: Market Activity Market stats Twin Cities

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