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Housing Market’s Virtuous Cycle

The Housing Market Virtuous Cycle

The housing market has come roaring back in many markets throughout the U.S. and some have been questioning whether the surge of activity we're seeing has staying power. In many markets, from 2008 through much of 2012 we saw that nearly half of home sales were of foreclosed or short sale properties.  What we're seeing now is a return back to the Traditional Seller as foreclosure and short sale inventory declines sharply. What's crucial about this return to a more normal market is that in a Traditional Sale, … [Read more...]

Twin Cities Real Estate May Market Update

Here is the most recent housing market update video: … [Read more...]

4.5% Interest Rates Hurt Housing

Doubt - A Despair Demotivator

In the last two weeks we've seen interest rates on 30 year fixed mortgages move from 4.5% to 5.5% (or higher) that's a big OUCH.  This full interest rate point swing has meant that almost overnight, buyers lost well over 10% of their buying power.  Another way to look at it is housing just got 10% more expensive. While everyone was thrilled to see 4.5% interest rates, myself included, from the very outset I had concern about what this means for housing long term. The short term benefits are large and … [Read more...]

Q&A: Is NOW the Right Time for Me to Buy a Home?

This is a very common question I get asked by prospective buyers given our current economic situation and the conflicting information they get from news, friends, family and coworkers. Below is a list of questions to ask yourself as a guide to help you decide if now is a good time to buy for you. 1. How stable is my job/job field? With the ever-changing economy as it is, you may want to gauge the stability of your current job/employer in addition to taking a look at how stable the job market is in your field.  If … [Read more...]

Q4 Lender Mediated Report & City Level Data Released

Hennepin County Sheriff Sales through December 2008

Today I am pleased to announce the release of the Foreclosures and Short Sales in the Twin Cities Housing Market: Q4 2008 Update.  This is the 4th installment of quarterly reporting of lender mediated sales and their impact in the Greater Minneapolis/St. Paul area, which I co-author with the musically, intellectually, politically and statistically talented Jeff Allen.  2008 reports from quarters 1, 2 and 3 are also available. Here's how to know if buying a foreclosure or short sale is right for you. This … [Read more...]

Profit & Loss: Twin Cities Real Estate Market


(graphic modified from Minneapolis Area Association of REALTORS report) Using a little cut-and-paste magic, I wanted to take a look at the impact of the housing market's shift over the last 4 years.  Comparing total sales volume (in Dollars) in 2008 vs. 2005 shows that we're down 40% in the 3 years since the market's peak.  Since most real estate agents & brokers earn their incomes from commissions based on the sales price of the home, you can see how incomes for the agents and their brokers are down … [Read more...]

Q&A – How to Spot a Recovering Housing Market

I hear buyers, sellers, lenders, real estate agents and the community as a whole rhetorically ask when we'll see the housing market recover.  Unfortunately putting a timeline on a housing recovery is pretty unrealistic as there are simply too many variables to account for.  But all is not lost!  While I cannot predict when the housing market will recover, I can give you trends to watch for that will signal a turnaround and their current indicators. Falling Inventory Supply & Demand 101: if demand has fallen … [Read more...]


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.