Home sales still slow

The Minneapoilis Star Tribune reports…

According to a report released Monday by the Minneapolis Area Association of Realtors, there were 33.5 percent fewer home sales last month compared with the
same time last year. On an annualized basis, the monthly total was the lowest in 15 months.

Prices also fell, to $166,000, 2.4 percent lower than a year ago and the lowest median price since February.

The tax credit offered earlier this year is credited or blamed with the slow sales. The market seems dire – but the experts are reminding folks that sales are down just 1.4% September 2008.

The perception of slow sales is great for home buyers.

Submitted by Real Estate Agent, Mary Rugani.

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