Minneapolis + Housing Supply Tidbits for April 2009
What to Watch For
New construction homes continue to go the way of the dodo bird. There are
currently 3,149 new construction units listed for sale in the MLS system, down
25.0 percent and over 1,000 units from a year ago. Unfortunately, sales are
down even farther, which has pushed the Months Supply of Inventory for new
construction properties up to 11.3 months.
You may have heard the news that home sales are increasing in the Twin Cities.
The rise is entirely in the single-family detached segment, however, as both
townhomes and condominiums are selling less frequently this year than they did
a year ago.
Similarly, the recent uptick in sales has missed the upper bracket market. Home
sales above $190,000 are down 20.0 percent in the last year.
maar 2009
Tags: maar report, New construction twincities, single family detatched minneapolis. house sales minneapolis
