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Two Graphs – One Message for The Twin Cities Real Estate Market

Take a look at the two charts below:

Pending Sales 10-07

Total Active Inventory 10-07

These graphs are on different time scales (3 years and 4 years respectively) but the trends are extremely easy to read: Sales volume has fallen substantially from its highs in 2005 and inventory this year has climbed to record highs.

While the growth of inventory has fallen sharply, up just 9% from a year before, inventory¬†is still higher than last year, which means we’re still in a toughening market.¬† This is NOT a housing market crash, but it is a market correction that has not yet run its course.

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.