The 2010 spring housing market is officially off to the races. Many buyers held off on buying last fall, due to the tax credit extension. Now they are rearing to go. How do I know this? – from my own buyers, and also hearing many other Realtors commenting on this same thing from their buyers, which leads to point #2: Many sellers are now going on the market earlier than they normally would.
The housing market in the Minneapolis metro area is somewhat cyclical, with the majority of listings going on the market in the spring, and a small bump again in the latter summer/early fall. Typically our market starts to heat up right after the Super Bowl (cabin fever?). Many of the listings go on the market in March, April and May.
This year, many agents are suggesting to their clients to go on the market in January, and February. There are many buyers out there, locked and loaded…pre-approved. Also, due to the tax credit expiration (must write your offer by April 30th, and close by June 30th), this has put the heat on the market.
