Here’s the latest advice from Minneapolis Area Association of Realtors:
If you’re buying a home in the price range below $120,000, you’ll have to move fast. There’s only 2.9 months of supply in that range, which places it in the extreme seller’s market category. The reason for the tight inventory picture? There’s been a huge upsurge in home buying activity—sales are up 127.5 percent in that category over the last twelve months.
If you’re looking in that market, be sure to get a Home Buyer Agent on your side to help give you the edge in the transaction – remember buyer agents work for you!