Real Estate Weekly Update
February 7, 2011
For the week ending January 29, 2011, purchase activity in the Twin Cities 13-county metro registered 2.0 percent below the same week in 2010. That marked the smallest decline in buyer activity in two months. Pending Sales in the first half of 2011 will struggle to match the high marks set during last year’s tax credit but should parallel 2009 levels.
Seller activity has mimicked last year’s levels thus far, only about 300 units slimmer. A total of 1,317 New Listings entered the market for the week, 16.9 percent fewer than the same week last year.
Active Listings for Sale increased a modest 1.8 percent from last year. Current inventory levels have remained fairly static over the past five weeks.
As reported by the Minneapolis Area Association of Realtors.