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Twin Cities Pending Home Sales 2nd Highest in 7+ Years

Home Sales on the Rise Twin Cities pending home sales for the week ending April 20th, 2013 surged to their 2nd highest level in more than 7 years.

In one week, 1,337 homes went under contract, which was the highest level since August 2005 except for a single week in 2010 when the first time home buyer tax credit was expiring.

Pending sales were nearly 10% higher than the same week a year ago and continues the trend of increasing sales, declining inventory and rising prices. While sales are up, new listings are effectively flat from the year-ago period.

The Months Supply of Homes for Sale is likely to decline further through the rest of the year, dropping to new decade lows.

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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.