The Twin Cities housing market continues its spring dance as the 2010 weekly numbers outpace the equivalent weeks of 2009. New listings for the week ending March 27 were at 2,240, 29.4 percent higher than during the same week last year.
Pending sales are up 13.8 percent over last year, and we once again broke the magical "1,000 margin" with 1,049 purchase agreements.
A stat to start watching closely is the ever-shrinking Supply-Demand Ratio. The ratio is squatting at 4.39 homes per buyer. That's a lot less inventory than we've seen in recent years, indicating that buyers need to move quickly to get the home they want, especially in the lower price ranges where homes are selling the quickest.
I would be interested to know how the spring break, holiday shift has affected the data.
Posted by: Christine Hazel | April 05, 2010 at 01:16 PM
As supply is running twice faster as selling, how could the Supply-Demand ratio went down to 4.39?
Posted by: John | April 05, 2010 at 02:38 PM