Twin Cities Real Estate Market Has A Little Good News

MAAR released their weekly market activity report the other day, and while I’ve already shared the encouraging data from the Minneapolis duplex market, the single family home sector warranted some minor celebrating as well.
While the number of newly listed homes for the week ending January 10 jumped, as they always do after the holidays, they still trailed last years figure by 7.6 percent. In fact, over the last three months new listings are down 9 percent from the mark set in the same period the year before.
But here’s the really encouraging news. Pending sales for the week were up 19.4 percent week over week from their 2008 mark. Over the last three months, pending sales are up a whopping 17.9 percent from the mark set during 2008.
Again, don’t buy any party hats. But a half-hearted “Yea!” might be appropriate.