MAAR’s Weekly Market Activity Report - January 2010 was Nearly Identical to January 2009
The January 2010 Twin Cities housing market has shaped up to be nearly identical to January 2009.
- Pending sales are down slightly from a year ago, but not by much.
- New listings are down slightly from a year ago, but not much.
- Inventory is rising slowly, but not much.
After the roller coaster ride the local market has experienced over the last four years, perhaps "not by much" is a welcome respite.
- There were 558 signed purchase agreements for the week ending January 23, down 2.3 percent from a year ago.
- New listings posted 1,522 units, down 0.6 percent from a year ago.
- The current inventory of active listings is 20,629, down 17.5 percent from a year ago.
The February 2010 Supply-Demand Ratio sits at 6.99, which means there are 6.99 homes available for each buyer. That’s a drop of 8.5 percent from a year ago and the lowest February mark since 2006.
For the full market report visit
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf
MAAR Weekly Market Activity Report is information from the Minneapolis Area Association of REALTORS®