Are you out there buying or selling a house? The Twin Cities housing market must look very different depending on your perspective.
As an economic indicator, last month’s housing numbers for the Twin Cities are pretty bleak. Minnesota Public Radio’s Annie Baxter is reporting that foreclosures made up 43 percent of sales in March. Those properties often sell at fire-sale prices, which drove down the median Twin Cities sales price by 12 percent to $143,000, compared to the same period the previous year.
The number of signed purchase agreements in March dropped nearly 18 percent from the prior year.
Realtors say they’re getting a lot of interest in homes under $100,000 that are getting resold or rented out.
Buyers or sellers…Do these numbers reflect the reality of what you’re seeing in the Twin Cities?