Twin Cities: Signs Of Hope On The Housing Front

The Minneapolis Area Association of Realtors said that in the last seven weeks, 1500 more homes were sold than the same period last year and there are eight percent fewer homes on the market than a year ago. The translation: the bulk of homes for sale is beginning to ease. "We're seeing some buyer entry into the marketplace and that's really good news", said Kevin Knudsen, President of the association. However, many homeowners haven't seen evidence of the recovery because most of the movement is on homes priced below $200,000 and many of those foreclosures. The big question is how the events of this past week will affect what appears to be the beginning of a recovery. Some experts predict that home loans will be easier to get it the bailout passes.