On September 13, Jim Buchta (Twin Cities Housing Market Still Hot September) reports in the Star Tribune that houses are still selling in the Twin Cities, due in part to the fact that mortgage rates have remained low. Sales agents and home seller, however, have reported longer sales cycles. The average time on the market is 65 days.
What does this mean to the home buyer? Well, you should see more choice and feel slightly less pressure to make a quick or high offer – but houses that are priced reasonably are still going quite quickly. It always makes sense to have a buyer agent with you to help your decide when and how to act.