Minnesota Housing Summit on October 3, 2013

Top 10 Reasons to Attend the Housing Summit 

Minnesota Housing Summit 2013
Minnesota Housing Summit 2013

Continuing your education is important in the world of real estate.  Join hundreds of your peers across the housing and real estate industry at the Minnesota Housing Summit on October 3. Experts will share their knowledge about a variety of topics from home values to interest rates, from how Minnesota is changing to what the future holds for our industry.

Everyone who has a stake in housing should be there! Still not convinced? Here are the top 10 reasons to attend the Housing Summit.Read More »

The Housing Market Heats Up as Temperatures Rise This Summer

Homes are selling at fastest rate since 2005.

Shorts, flip-flops and tan lines aren’t the only things trending this summer. The housing market has been heating up since July. Homes are flying off the market, according the latest report from the Minnesota Association of REALTORS®.  Homes statewide are selling in 70 days or less. If you’re in the Twin Cities, houses are selling even faster on average in 46 days. This is the fastest homes have sold since 2005.

Minnesota Housing Report

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Housing Market Shows No Sign of Slowing Down

Highest amount of closed sales in Minnesota since 2010.

Sold signs have become a popular yard accessory this summer. According to the latest report from the Minnesota Association of REALTORS®, the number of closed sales in June are at 8,125. This is up 351 from the same time last year, a 4.5 percent increase. This recent surge is the highest Minnesota has seen since 2010.

Homebuyers are signing on the dotted line while more are looking to do the same. The number of pending sales has seen an 8.3 percent increase.

Minnesota closed sales by region.

“Thankfully sellers won’t have to wait very long to sell their home,” said Jim Cormier, President of the Minnesota Association of REALTORS®. “In the Twin Cities, we’re seeing homes sell quickly – often with multiple offers.”Read More »

Why Housing Inventory Levels Are So Low

Buyers are searching high and low for housing inventory.
Buyers are searching high and low for housing inventory.

Minnesotans experience shortage in housing market.

The housing market in 2013 has had striking similarities to a game of Where’s Waldo. Competition amongst buyers has remained steady as houses receive multiple offers at a fast rate. By the time a home is listed online, it may in actuality already be off the market. Inventory levels are beginning to rise, relieving the stress prospective homebuyers have felt during the search for home sweet home.

Rising values bring more sellers off the sidelines, putting more homes on the market. The housing market has bounced back as the latest report from the Minnesota Association of REALTORS shows. Now is the time to buy AND sell. An 18.1 percent increase in new listings has resulted in the median sales price maintaining its steady growth. Statewide sales prices have increased from $153,000 to $172,513, a 12.8 percent increase as homeowners receive 95.5 percent of their original price. Now is the time to list a home so why is there a housing shortage?Read More »

Minnesota Housing Market on a Positive Path

Number of new listings continue to rise during the month of May

Despite the gloomy weather, the housing market continues to shine.  According to the latest report from the Minnesota Association of REALTORSÒ, numbers are reflecting a positive trend in the market. New listings have risen 2,062 since last May. Closed sales are similarly trending upwards with a 3.8 percent increase with an average of 79 days on the market.

new listings may 2012 compared to May 2013

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Make Money Off Your Home

How to leverage your home’s value.

Make the most of your home's value.Your house and yard represent your single largest asset, yet aside from appreciation, you’ve likely never made a dime off of it. Your home is a financial tool with value you can leverage. Make your home work for you. Avoid these common real estate money mistakes.Read More »

Minnesota Housing Market Shows Steady Price Increases

National home prices see biggest leap in 7 years

Gains in Minnesota markets were more modest than the 12.1 percent U.S. increase.
Minnesota Housing Market Shows Steady Increase

Supply and demand, when demand is high and supply is low, prices will go up, right? It’s the oldest economic principle in the book and we’re seeing it happen in the housing market across the country. National housing reports for April show that home prices saw their biggest leap in 7-years! According to housing reports, prices were up in 48 states when looking at year-to-year numbers for April. Across the country, housing values were up just over 12-percent in April of 2013 compared to April of 2012. Here, the Minnesota housing market shows steady price increases over the same stretch in time. Our homes didn’t appreciate at the same clip – nearly seven and a half percent year to year – but that may be a good thing.

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The Right Time to Sell Your House

Housing market primed for sellers

Make a move on buying a house while mortgage rates are still below 5 percent.
Make a move on buying a house while mortgage rates are still below 5 percent.

Get on the phone, call or text your REALTOR and list that house! That’s right, if you’ve been thinking about selling and have been waiting for the right time to sell your house, this is the best it’s been in a while. With interest rates at basement bottom numbers and a tight housing inventory, buyers are out there ready to spend money and your house may be exactly what they’re looking for.

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Housing Market is Prime Time to Sell

Homes being purchased at fastest rate since 2007

Minnesota Association of RealtorsSellers are finding themselves with a sold sign on their lawns in less than three months, according to the latest housing report data from the Minnesota Association of REALTORS® (MNAR).  Homeowners only required an average of 84 days to sell their home in April of 2013 three weeks less than the same time last year. This is the fastest homes have been selling since 2007.Read More »

Low Inventory Encourages Home Sales

Buyers compete as homes receive multiple offers.

Homebuyers kept Minnesota REALTORS® moving in the month of March.  The housing inventory is still trending low according to the latest monthly data compiled by the Minnesota Association of REALTORS® (MNAR). There were 2,245 less listings in March 2013 as compared to March 2012. At 11,784 listings, this is the lowest supply Minnesota has seen since 2005.

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