Well, it’s been another month in the Twin Cities housing market, and we have some good and some not so good news about where the real estate market is and where it’s going.
This video below, produced by the Minneapolis Area Association of Realtors, summarizes the housing numbers including sale price, supply of inventory, days on market, and so on. This episode they also include some numbers indicating where the American economy is right now, and possibly where it’s heading in the near future for 2011.
What I can tell you is from personal experience is that this is still an incredible time for First Time Home Buyers to be purchasing properties. Interest rates remain insanely low, home prices are much more reasonable than 4 years ago, and there are plenty of homes to choose from in your area. Plus you may be able to qualify for some down payment or closing cost assistance as a first time buyer!
Remember that when you hear “bad news” about the housing market, it typically means “good news” for first time home-buyers. You are the silver lining!!!
