Minneapolis Named Best Place To Buy

Last week the web site Trulia.com ranked Minneapolis/St Paul number one on its list of America’s Top Ten Cities To Buy Vs. Rent.

To come up with their rankings, Trulia took the average list price of properties on the MLS and divided it by the average rent on a 2 bedroom apartment, duplex, condo or townhouse in the largest 50 markets in the country.

In other words, according to Trulia’s co-founder and CEO Pete Flint, “Home sellers in hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result, these unattainable markets are so affordable it makes better financial sense to buy than rent.”

With the expiration of the first time and repeat buyer tax credits at the end of April, there is much less competition for the good properties in the market.

Call me. It’s a great time to buy.