MAAR Update on Local Real Estate Market
Dec.21, 2008 in
Minneapolis, Real Estate
What does the local real estate market look like these days? Well, that depends which angle you look at it from. The head and future head of MAAR (Minneapolis Area Association of Realtors) break it down in the following video (Warning: this doesn’t have the energy of Jim Cramer, but they do a nice job presenting the stats):
My takeaway: Housing prices are down and mortgages are currently at historically cheap levels, making it a very good time to buy.
December 21st, 2008 at 11:16 pm
It’s a good time to buy for SOME people, but not all. This data is agregated for the Twin Cities as a whole and thus doesn’t tell the story of all the micro-markets in the Twin Cities, especially areas that have been hit hard (or not at all) by lender-mediated sales.
I’m eagerly telling my buyers that there may not be a better time to buy in our lifetimes but I am also telling them that they need to be looking at 4-5 years as a minimum to own their home because this market will take time to recover.
May 22nd, 2009 at 10:36 am
Homes are selling. As a home inspector in Minnesota for the past 7 1/2 years, this 5 months has been much better for me than the first 5 months of 2008.
Just staying positive. Great Blog!