There’s some good news in Minneapolis if you’re a home buyer – sellers are cutting their prices. According to the Minneapolis Star Tribune…
Reports released Wednesday showed pending home sales in the Twin Cities down, the inventory of houses on the market growing and sellers in Minneapolis offering price reductions more often than in any other U.S. city.
percent of all active sales. The average markdown was 9 percent.
More good news for buyers, mortgage rates are lower than they’ve been in 50 years.
Already, it’s a strong buyer’s market. Although the number of new listings that came on the market last month was down almost 10 percent, the total number of houses on the market rose slightly to 27,249, a 5.4 percent increase over last year at this time.
Submitted by Minneapolis Realtor, Mary Rugani.