One of the challenges in the current market for the Twin Cities Realtor’s associations has been spotting trends in terms of trends with lender-involved properties, vs. those being sold by a traditional seller. Until recently, it was impossible to discern what percentage of properties on the market involved lender-owned properties or short sales. Consequently, it was also virtually impossible to determine how traditional sellers were fairing.
In an effort to address and decipher these issues, the Minneapolis Area Association of Realtors released a comprehensive report yesterday detailing the full impact of the mortgage crisis in the Twin Cities market.
Highlights of the report include:
While the report does not address small multi-family housing (duplexes, triplexes and fourplexes), it nonetheless provides useful information to investors. To see the full report, click here.