Since early this year, the Twin Cities housing market has been making strong gains towards a level of what I call "peak inventory." What I'm describing as peak inventory is the point where we see the number of houses for sale today at a level lower than last year. Well, we officially hit that in the weekly market report dated 5/5/2008 and are continuing that trend the last two weeks as well. What does this mean? There's approximately 600 fewer homes for sale today than there was a year ago and if current trends … [Read more...]
