Minnesota Real Estate Weekly Update

Finally some good news for the Twin Cities real estate market! Pending sales jumped significantly from the previous week. There were 757 newly signed purchase agreements, only down 8.9% compared to this same time last year. There were also 300 fewer properties put on the market this past week than the same time in 2007. A total of 2,078 listings were put on the market, and overall inventory still remains at 30,619, an increase of only 5.5% compared to this same time in 2007.

Much of the recent buyer activity has been caused by the increase of investor purchases. To put in bluntly, real estate is "on sale" here in the Twin Cities, and the die hard investors know just that. They are buying as much as they can literally get their hands on!

Our team, The Minnesota Real Estate Team, continues to offer monthly investment property seminars. If you have any interest in learning how you can get into investment property or continue on, feel free to give us a call at 952-223-1150. All of the agents on our team own investment property and can help you build your long term wealth through real estate.

Look for another real estate update next week!