As of May 26th, the Minneapolis metro housing market (12-county) inventory is down (to 23,855) from this point last year (27,358), pending sales up are (12,750) up from this point last year (10,296), with the Minneapolis housing market overall average of days on market until a sale down from this point last year, from 154, to 150. Also, the percent of list price received at sale is down 1.7% from this point last year, from 31.7%, to 90.0%.
In general, these are good signs for the Minneapolis housing market. However, with the very quick, recent spike in interest rates, we could be slowing our momentum in a very fragile housing recovery. More to be revealed…
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