Weekly Real Estate Update
July 5, 2011
The week ending June 18, 2011 marked an important milestone for the Twin Cities housing market. More buyers entered into purchase agreements that week than during any non-tax credit year since the peak bubble year of 2006. That is to say the 1,076 signed contracts outpaced all of 2007 and all of 2008. The week ending June 25th enjoyed a 52.2 percent increase over the same sluggish, post-credit week in 2010 to reach 1,012.
New listings fell below year-ago levels for the third straight week. The number of active properties for sale dropped 14.6 percent to 25,500, the largest decrease in 73 weeks or since January, 2010.
As reported by the Minneapolis Area Association of Realtors.