May 2014 Housing Market Update

May 2014- “The American Dream of homeownership is alive and well…” (Minneapolis Area Association of Realtors). 

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The housing market looks to still be fluctuating, and some may have noticed a slight pause in the housing recovery this year. As noted by the MNAR, homes need to be listed in order for buyers to buy the homes. Reliable financing, better jobs, and stronger wage growth is also necessary.

In May 2014, new listings increased by 3%. Pending sales were down 9%, and inventory levels grew 6.1%.  The median sales price of homes in the Twin Cities area increased 8.2% to be around $210,000. All in all, May 2014 still shows a strong indication of a growing housing market.

For more information regarding the housing market, please feel free to contact us directly at 651-269-3487 or email us at Sandy@SandyErickson.com

We are here for all of your buying and selling needs!

Sandy Erickson Real Estate Team

Keller Williams Realty

 

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