Minnesota Home Listings Decline by 5 Percent in December
A large real estate company does a monthly study of the number of home listings in 26 major cities and found that listing inventory was reduced 5.27% in December 2010(as compared to previous months). The report includes data collected from the Multiple Listing Service (MLS).
The December listings are still more than 11% higher than inventory was one year ago in 2009.
There is still a large surplus of housing inventory on the market that is causing Minneapolis area home prices to suffer. The majority market share of the inventory still consists of short sales, foreclosures, and bank owned properties.
Steve Loraus Realtor
MNRates.comStevesMNHomes.comShortSalesMN.comTwin Cities Real Estate Group, Inc 18279 Minnetonka Blvd #AWayzata, MN 55391-4143Phone: 612.387.1326Fax: 952.746.1077
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