A year ago this month, there were 7.1 houses to every buyer in the twin cities metro area. Guess where we are this month???? 5.5 houses to every buyer. The real estate community considers the market “balanced” between buyers and sellers when there are roughly 5.0 houses for sale for every buyer. In all price ranges, home sales had a 17.7% year over year increase. From March 2009 – March 2010 single family inventory has decreased 10.2%. We all know what happens when supply goes down….demand will go up! All signs indicate the market is ready to rebound. Buyers – are you ready to take advantage of incredible value before prices start to increase????
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