The Twins Cities residential housing supply reached 7.4 months of inventory in August, well above the 5 month mark that is considered balanced between buyers and sellers. Last August, the supply was 4.5 months and in February of this year it was still only 4.8 months. The housing supply is the theoretical amount of time it would take for all the homes currently on the market to become pending or sold. It is found by dividing the number of homes currently listed by the number of homes being sold each month. Currently there are approximatlely 31,430 homes on the market in the Twin Cities area. If you are thinking of making a move give The Singhal Team a call today or visit www.greatertwincitieshomes.com for your VIP all access pass.
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