The market continues to be soft here in the Twin Cities for sellers. This past week, there were 2400 new MLS listings put on the market, and 1000 MLS listings went pending. Inventory levels continue to hover at the 43,000 active properties mark. This is up from 38,000 actives as of last year at this time.
Compared to one year ago at this time, pending sales are down almost 16%. Thankfully, new listings processed were also down this week 3% compared to last year at this same time. The rise in interest rates over the past month has also created more affordability problems for many buyers.
In spite of this "doom and gloom," the Singhal Team continues to find qualified buyers who are looking to buy. Sellers however are being forced to be "realistic" on sales price.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment