Has the Bottom of Real Estate Come and Gone?

Hunting for Market Bottom? You May Have Missed It

Minneapolis, Minnesota (May 10, 2012) – The momentum from March continued into April as the market showed further signs of strength and stabilization. Homes are selling faster, sellers are seeing a greater share of their asking price and prices continued to climb over year-ago levels. Driven by sub-4.0 percent interest rates and high affordability, buyers have been active in 2012.

Year-Over-Year Change in Median Sales PriceThe median sales price for the Twin Cities metro area for April 2012 was up 12.4 percent from last April to $163,000. That’s the largest jump since January 2004. Since median sales price can be manipulated by the mix of homes that happen to close in a given month, whether condos, foreclosures or new construction, the Minneapolis Area Association of REALTORS® (MAAR) has developed a new home price index through its 10K Research and Marketing division that will account for that changing mix of homes selling as well as for seasonality. The 10K Home Price Index is now part of MAAR’s Monthly Indicators, available at mplsrealtor.com.

“The index will provide a more accurate view of home value movement,” said Cari Linn, President of the Minneapolis Area Association of REALTORS®. “For example, traditional home sales now account for the majority of the market, which tends to drive up median and average prices since they tend to sell for more than foreclosure properties.”

Indeed, traditional sales were up 58.8 percent, while foreclosures fell 8.1 percent and short sales increased 13.8 percent. Distressed homes made up 34.0 percent of all new listings and 39.3 percent of all pending sales, the smallest shares since July 2008 and August 2008, respectively. Traditional prices fell 2.2 percent to $198,500; foreclosure prices jumped 15.9 percent to $119,900; short sale prices fell 4.4 percent to $129,000. Traditional sales made up 57.1 percent of all closings and sold roughly 50.0 percent more than foreclosures and 20.0 percent more than metro-wide prices, generating the strong gain in overall median sales price.

The number of homes for sale has dropped for 15 consecutive months, down 29.2 percent from last year to 17,312 active listings – the lowest inventory reading for any month since January 2004. Months supply of inventory plunged 44.0 percent to 4.6 months – the lowest reading for any month since August 2005.

On average, homes sold in 135 days, down 14.9 percent from last April. Sellers received an average of 93.3 percent of their list price, up from 90.1 percent last April. Cash buyers made up 20.7 percent of all closed sales, down from 24.8 percent at this time in 2011.

“We’re impressed with the accelerating improvements,” said Andy Fazendin, MAAR President-Elect. “High-quality, move-in-ready inventory is limited. Those waiting for falling prices will likely be disappointed.”

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.

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Real Estate Update

Weekly Real Estate Update
May 14, 2012

If only there were a system of grand, colorful lights for tracking residential real estate. Green for rising market, yellow for a transitional market and red for declining market. Let’s see if we can try to determine today’s market without the ease of well-known signals. Prices are bottoming and starting to rise. Buyer activity is showing year-over-year gains. Homes are selling faster and closer to list price. Multiple offers are becoming commonplace. Inventory levels are leaning toward the seller. Green means go.

In the Twin Cities region, for the week ending May 5:

• New Listings decreased 6.6% to 1,643
• Pending Sales increased 41.9% to 1,232
• Inventory decreased 28.3% to 17,579

For the month of April:

• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 43.1% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
May 7, 2012

For Week Ending April 28, 2012
All comparisons are to 2011

Buyers don’t live in a spreadsheet. When buyers find a home they love, they are drawn to it like moths to light; they find themselves unable to ignore the emotional significance of the home by an excessively intellectual explanation.

There are generally fewer homes on the market, they’re selling more quickly, and the down trend in prices in most areas is evaporating. Dwindling inventories means there’s less competition and more pricing power for sellers, who are finally starting to be rewarded by strong buyer activity. Interest rates at 50-year lows doesn’t hurt either. Love is in the air and all around the housing market.

In the Twin Cities region, for the week ending April 28:
• New Listings decreased 14.9% to 1,475
• Pending Sales increased 21.4% to 1,187
• Inventory decreased 28.0% to 17,603

For the month of March:
• Median Sales Price increased 7.1% to $149,900
• Days on Market decreased 9.7% to 144
• Percent of Original List Price Received increased 3.8% to 92.1%
• Months Supply of Inventory decreased 37.2% to 4.8

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
April 23, 2012


Job growth, low mortgage rates, rising rents and a relatively inexpensive housing stock. These are just some of the playful teases in the burlesque revue that is today’s market recovery. Another week passed with buyers displaying no signs of slowing down. In general, sellers are discovering a less-intimidating scene, and buyers are reveling in the showy marketplace. As expected, spring’s warming glow continues to fuel optimism and consumer activity. But that won’t necessarily be
the case in every area or segment, so do your research before making that move.

In the Twin Cities region, for the week ending April 14:
• New Listings decreased 9.5% to 1,637
• Pending Sales increased 25.5% to 1,170
• Inventory decreased 27.8% to 17,384

For the month of March:
• Median Sales Price increased 7.1% to $149,900
• Days on Market decreased 9.6% to 145
• Percent of Original List Price Received increased 3.8% to 92.1%
• Months Supply of Inventory decreased 38.0% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
April 16, 2012

Market sentiment can become a self-fulfilling prophecy. Just as negative economic news sent a chill through the housing industry over the last several years, a newly confident consumer buying up excess inventory and further housing-related sundries helps stabilize and support home values. Some sellers are even starting to see rising prices. The numbers are beginning to reflect the fact that multiple offers on homes for sale are now more than anecdotal conversation between real estate professionals. For this week, new listings were down while purchase contracts were up compared to the same week in April 2011.

In the Twin Cities region, for the week ending April 7:

• New Listings decreased 19.0% to 1,411
• Pending Sales increased 15.5% to 1,036
• Inventory decreased 27.3% to 17,289

For the month of March:

• Median Sales Price increased 7.1% to $149,900
• Days on Market decreased 9.4% to 145
• Percent of Original List Price Received increased 3.8% to 92.1%
• Months Supply of Inventory decreased 38.5% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Home Prices Stabilize Amidst Other Improvements

Minneapolis, Minnesota (April 11, 2012) – March provided a critical data point on the road to recovery. For the first time since October 2010, the median sales price of Twin Cities homes was higher than a year ago. The 6.4 percent gain was the largest year-over-year median price increase since a tax-credit-driven April 2010. After accounting for the growing square footage of homes selling, price per square foot increased for the first time since June 2010.

Year-Over-Year Change in Median Sales Price

 

Prices weren’t the only metric to show improvement in March. Pending home sales were up 20.4 percent and are already higher than any month in 2007, 2008 or 2011. Months supply of inventory fell nearly 40.0 percent to 4.6 months – the lowest reading for any month since January 2006. Compared to the year prior, sellers are seeing a greater share of their asking price in less time as competition and over saturation have both eased significantly.

A warm winter certainly helped boost buyer activity, but low interest rates, affordable prices and a sense of urgency caused by tightened inventories were also factors. The number of homes for sale continued to drop, down 27.5 percent from last year to 17,081 active listings – the lowest inventory reading for any month since January 2004.

“Don’t mistake price gains for a fully recovered market,” said Cari Linn, President of the Minneapolis Area Association of REALTORS®. “Supply is down, and the mix of homes selling is shifting toward traditional sales. We’ll accept that as progress and build upon it.”

Traditional sales surged 33.2 percent, while foreclosures slid 13.2 percent and short sales increased 5.0 percent. Distressed homes made up 34.6 percent of all new listings and 43.7 percent of all pending sales, the smallest shares since July 2008 and April 2010, respectively.

The overall median sales price was up 6.4 percent to $149,000. That reflects a shifting market share in terms of sales volumes and not price gains in the traditional, foreclosure and short sale segments. In fact, traditional prices fell 1.2 percent to $195,000; foreclosure prices fell 2.8 percent to $105,000; and short sale prices fell 3.8 percent to $128,950.

The seller side of the equation continues to improve. On average, homes tended to sell in 144 days compared to 160 last March. Sellers received an average of 92.1 percent of their asking price compared to 88.7 percent last March. That marks the sixth consecutive month of decreases in market times and the eighth consecutive month of increases in the ratio of sales price to list price. Seller confidence will play a key role in filling the supply pipeline moving forward.

“It’s looking increasingly likely the worst is behind us,” said Andy Fazendin, MAAR President-Elect. “We continue to see encouraging signals from the market that allow for an improving view on residential real estate in 2012.”

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.

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Real Estate Update

Weekly Real Estate Update
April 9, 2012

The weekly scorecard showcases that home buyers were more active compared to the same week last year. Buyers have been taking advantage of an affordable market, but sellers in many areas have been lazing in the tall grass like lions as the herd moves past. Watch for a changing landscape this spring and summer. Even skeptical sellers are sensing a need to get back into the hunt.

In the Twin Cities region, for the week ending March 31:

• New Listings decreased 12.1% to 1,532
• Pending Sales increased 25.2% to 1,113
• Inventory decreased 27.2% to 17,274

For the month of March:

• Median Sales Price increased 6.4% to $149,000
• Days on Market decreased 10.0% to 144
• Percent of Original List Price Received increased 3.7% to 92.1%
• Months Supply of Inventory decreased 39.2% to 4.6

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
April 2, 2012


The last time you were at the doctor, your vital signs were checked – heart rate, pulse, temperature and blood pressure. Progress was documented and valuable insights were gained, whether it was a routine visit or one of many checks during an extended hospital stay. The housing market has been in and out of intensive care for the past several years. Monitoring vitals matters. The pulse of today’s market indicates that we may be getting ready to leave the ICU. So if you could just please pull up your sleeve, let’s check your blood pressure.

In the Twin Cities region, for the week ending March 24:
• New Listings increased 2.2% to 1,414
• Pending Sales increased 30.2% to 1,052
• Inventory decreased 27.3% to 17,193

For the month of February:
• Median Sales Price decreased 1.4% to $138,000
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.5% to 90.6%
• Months Supply of Inventory decreased 34.8% to 4.7

As reported by the Minneapolis Area Association of Realtors.


Click on chart to view larger size.

Click on chart to view larger size.

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For more information on the market and your real estate needs,
contact the Real Estate team of Kate and Ellen Walsh.

Ellen Walsh
emwalsh@cbburnet.com
612.220.3304

Kate Walsh
info@designhouse9.com
612.220.3309

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Real Estate Update

Weekly Real Estate Update | Minneapolis–Saint Paul
March 26, 2012


National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reached 28. To put that in perspective, it went from above 70 in 2005 to below 10 in 2009. The HMI has not seen 28 since June 2007. This and other landmark data points are coalescing to signal calmer waters ahead. That’s not to say you should expect double-digit annualized appreciation, but both buyers and sellers are displaying the sort of confidence that is fluttering through the rest of the economy.

In the Twin Cities region, for the week ending March 17:
• New Listings decreased 1.3% to 1,406
• Pending Sales increased 23.1% to 1,029
• Inventory decreased 27.5% to 17,088

For the month of February:
• Median Sales Price decreased 1.4% to $138,000
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.5% to 90.6%
• Months Supply of Inventory decreased 35.2% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Home Prices Stabilize Amidst Other Improvements

Real Estate Update

Home Prices Stabilize Amidst Other Improvements

Minneapolis, Minnesota (March 2012) – Home buyers in the 13-county Twin Cities metropolitan area entered into 3,756 purchase agreements during February, a 34.2 percent increase over last year. Low-interest rates and affordable prices were likely the main draws. More people signed purchase agreements last month than during February 2006 and every February thereafter.

Motivated by less competition and an improving economic landscape, sellers were more active. There were 5,366 newly listed properties, up 1.1 percent from February 2011. The number of homes for sale continued to drop, down 27.2 percent from last year to 16,689 active listings – the lowest inventory reading for any month since 2003. Months supply of inventory was at a six-year low of
4.6 months.

“The mix of homes selling is slowly starting to change which has translated into the smallest price decline since October 2010,” said Cari Linn, President of the Minneapolis Area Association of REALTORS®. “Subsiding price declines are a sign of market rebalance.”

Traditional sales surged 36.2 percent, while foreclosure sales increased 8.5 percent. Both segments had nearly identical market shares, comprising 42.7 and 42.3 percent of overall sales, respectively. Short sales were up 36.3 percent to make up the remaining 15.0 percent of sales.

The seller side of the equation continues to improve. For the seventh consecutive month, sellers received more of their asking price than in the year prior. Sellers should take some comfort in the fact that homes are selling in 144 days compared to 159 last February. That marks the fifth consecutive month of year-over-year decrease in market times.

Those looking to sell their properties should be aware of distressed market activity. Homes in financial distress are exiting the marketplace faster than they are entering it, but they’re still a significant factor. The overall median sales price was down 1.4 percent from February 2011 to $138,000, marking the smallest decline in 16 months. Digging deeper, traditional prices fell 11.6 percent to $183,000; foreclosure prices fell 1.4 percent to $104,000; and short sale prices fell 17.1 percent to $116,000.

“Median sales price is an important market indicator, no doubt, but watching only price activity is short-sighted,” said Andy Fazendin, MAAR President-Elect. “Other indicators are offering consistent evidence of a market on the mend.”

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All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.
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Real Estate Update

Weekly Real Estate Update
March 12, 2012


The last six years or so have been tough on home prices, and even the most optimistic prognosticators say it will take another six years for median sales prices to approach the halcyon days of assured annual value increases for home sellers. Generations of stable home price increases gave way to a boom-and-bust cycle that would have made the Pets.com sock puppet blush. As we enter what should be an active spring market, our communities would do well to focus effort toward creating healthy, happy homes. With those in place, prices will rise again.

In the Twin Cities region, for the week ending March 3:
• New Listings decreased 23.2% to 1,402
• Pending Sales increased 29.7% to 940
• Inventory decreased 22.9% to 17,818

For the month of February:
• Median Sales Price decreased 1.1% to $138,500
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.6% to 90.6%
• Months Supply of Inventory decreased 36.5% to 4.6

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Overview

The Year in Review: Real Estate 2011

Now that 2011 is fully in the books, it’s important to discern which market segments performed well and which encountered additional challenges. This not only sheds light on consumer behavior, but also provides a preliminary look at what 2012 might have in store. For the 12-month period spanning January 2011 through December 2011, Pending Sales in the Twin Cities region were up 10.8 percent overall. The price range with the largest gain in sales was the $120,000 and Below range, where they increased 51.6 percent.

The overall Median Sales Price was down 11.7 percent to $150,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 9.7 percent to $167,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 141 days; the price range that tended to sell the slowest was the $1,000,001 and Above range at 292 days.

Market-wide, inventory levels were down 28.6 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 25.9 percent. That amounts to 0.0 months supply for Single- Family homes and 6.3 months supply for Condos.

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
February 27, 2012


The week left yet another trail of evidence leading back to a housing market on the mend. This time, the encouraging signs were even less clandestine. Nationally, both new and existing home sales enjoyed improvements. Even some December numbers were upwardly revised. New home sales have real and noticeable impacts on GDP, thus generating jobs and driving down unemployment. The overall bias for the entire U.S. is firmly toward balance. Locally, market activity was mostly positive. Spring will still be the major tell.

In the Twin Cities region, for the week ending February 18:
• New Listings decreased 7.1% to 1,256
• Pending Sales increased 28.6% to 899
• Inventory decreased 23.2% to 17,756

For the month of January:
• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.5% to 142
• Percent of Original List Price Received increased 3.4% to 91.2%
• Months Supply of Inventory decreased 34.2% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Home and Garden Show in Minneapolis

Home and Garden Show

February 29-March 4, 2012
Minneapolis Convention Center

$2 Off Discounted Tickets to the Home and Garden Show

The Home and Garden Show is taking place at month’s end. This is an opportunity to get lots of ideas and advice on these two topics. Hundreds of exhibits and displays will be placed throughout the Minneapolis Convention Center. Show highlights include:

Innovation Avenue

Green Scene

The Ultimate Backyard Lounge

Glorious Feature Gardens

The Idea Home

The Chandelier Fashion Show

Taste on Third Avenue

Shop the Marketplace

The Annual Plant Sale (5pm on Sunday)


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What show would be complete without celebrity guests? Here’s a partial list of celebrities at the show this year:

Chip Wade of HGTV’s Curb Appeal, The Block and Designed to Sell

Mark Brunetz of Style Network’s Clean House

Pat Simpson, nationally recognized home building and remodeling expert

Marjorie Johnson, a national star in the world of baking (and a Twin Cities native)

HOURS:

Wednesday Noon – 9pm
Thursday 10am – 9pm
Friday 10am – 10pm
Saturday 9am – 9pm
Sunday 9am – 6pm

ADMISSION COSTS:

$13.00 adults;
$4 children 6 to 12
5 and under free

More information on the Minneapolis Home and Garden Show

Maps – Minneapolis Convention Center

More information on Gardens

Here’s a link to Entertaining–Green/Eco Tips–Recipes | Tips Trends and Tools for those who can’t make the show in person.

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Real Estate Update

Weekly Real Estate Update
February 4, 2012


It was a week full of intrigue if ever there was one. A positive jobs report gave way to bullish activity on Wall Street backed by heroics from the hometown team, as the Giants showcased their Manning(ham) magic. Meanwhile, dozens of state attorneys general brokered a deal that will likely include principal write-downs. In local housing news, buyers made more purchases while sellers listed fewer properties than during the same week in 2011. Other indicators have recently showcased key improvements elsewhere in the marketplace. The most notable trend is fewer active listings. Buyers in wait-and-see mode may find themselves with more competition for fewer properties come spring.

In the Twin Cities region, for the week ending February 4:
• New Listings decreased 6.7% to 1,236
• Pending Sales increased 35.8% to 888
• Inventory decreased 23.2% to 17,697

For the month of January:
• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.4% to 142
• Percent of Original List Price Received increased 3.4% to 91.2%
• Months Supply of Inventory decreased 35.2% to 4.6

As reported by the Minneapolis Area Association of Realtors.

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Home and Patio Show

Home and Patio Show

February 16-19, 2012
St. Paul River Centre

$2 Off Coupon for the Home and Patio Show

If you’re planning to make some changes to your home or gardens this year, here’s an opportunity to get ideas and “how to” information. Hundreds of exhibits and displays will be placed throughout the three levels of the River Centre. Home improvement seminars will be presented by the Home Depot Pros. Topics include:

Do-It-Yourself Tile Installation: Ceramic, Porcelain and Stone

Do-It-Yourself Installing Pre-Finished Laminate and Hardwood Flooring

Do-It-Yourself Light Fixtures, Switches, Outlets and Landscape Lighting

Do-It-Yourself Toilet Installation and Repairs

Painting Tips and Techniques


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Looking to spruce up the landscape and garden? The Minnesota State Horticultural Society is sponsoring the garden seminars. Topics include:

Container Gardening for the Balcony, Deck or Patio

Small Space Vegetable Gardening – Jennifer Porwit, Master Gardener

2011: Oh, What a Year! – Bobby Jensen, KARE 11 and The Lawn Ranger

Ornamental Grasses Susan Oven, Master Gardener

Crafting Cool & Creative Containers – Don Engebretson, The Renegade Gardener

Organic Gardening – Mark Armstead, Linder’s Garden Center and Greenhouse

Master Gardeners will be available on Saturday and Sunday to answer questions. Looking for bulbs? Check out the bulb sale each day.

HOURS:

Thursday Noon – 9 P.M.
Friday Noon – 9 P.M.
Saturday 10 A.M. – 9 P.M.
Sunday 10 A.M. – 6 P.M.

ADMISSION COSTS:

$9.00 adults;
$2.50 children 6 to 12
5 and under free

More information on the Minnesota Home and Patio Show

Directions to the River Centre

The Renegade Gardener

LessLawn.com

More information on Gardens

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Real Estate Update

Weekly Real Estate Update
February 6, 2012


Whether motivated by the election cycle, a jump in employment, improving housing market metrics or the best start to a year for the S&P 500 since 1989, home buyers posted increased activity levels compared to last year. Consumers signed more purchase agreements but sellers entered into fewer listing contracts. Changes in supply side metrics confirm this, suggesting that relatively less new product is entering the market compared to buyer demand. That’s helped other metrics return to more friendly territory. Whatever the reason, it’s good to see that vote of confidence.

In the Twin Cities region, for the week ending January 28:

• New Listings decreased 17.5% to 1,090
• Pending Sales increased 22.9% to 833
• Inventory decreased 23.5% to 17,762

For the month of December:

• Median Sales Price decreased 6.5% to $145,000
• Days on Market decreased 2.3% to 141
• Percent of Original List Price Received increased 1.7% to 90.6%
• Months Supply of Inventory decreased 33.3% to 4.8

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update: 2011 Annual Wrap Up

2011 Annual Wrap-Up: Lower Prices and a Healthier Market

2011 by the Numbers

• Consumers purchased 41,429 homes, up 8.2 percent from 2010 and—excluding 2009—the highest since 2006.

• Sellers listed 68,875 new homes on the market, down 15.8 percent from 2010 and the lowest level since 2002. Inventory levels dropped 28.7 percent from 2010 and are at the lowest level in 8 years.

• Months supply of inventory—the time it would take to sell off all active properties—dropped 36.5 percent to 4.5 months.

• The median sales price fell 11.7 percent to $150,000.

• Precisely 50.0 percent of all closed sales were either foreclosures or short sales, up from 47.9 percent in 2010 and 48.9 percent in 2009.

Decreased supply, high demand and low prices are among the encouraging developments in 2011 that give cause for optimism in 2012. As the active supply of homes for sale decreased dramatically, absorption rates improved to levels not seen since 2005. Unprecedented low-interest rates and record housing affordability resulted in an 8.2 percent increase in home sales for the area.

“We are pleased with the recovery we saw in 2011,” said Richard Tucker, President of the St. Paul Area Association of REALTORS®. “Median sales price reflects the mix of properties sold during the year—and in 2011 a lot moved in that lower bracket. Price increases will be the final piece of the recovery.”

Distressed properties were the driving factor of home prices, selling for roughly 60 cents on the dollar compared to traditional homes.

“Homeowners need to remember that median sales price does a better job of reflecting what’s going off the market as a whole than representing the home values in a given area—each area is unique,” said Cari Linn, President of the Minneapolis Area Association of REALTORS®.

Improvements in the local economy will boost the Twin Cities real estate market in 2012. The outlook is positive: steady hiring, lessening layoffs and record low unemployment are all reasons the area continues to outperform the nation.

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.

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