Weekly Market Activity Report

Here's the latest from the Minneapolis Area Association of Realtors:

Buyers continue to exercise restraint as the Twin Cities housing market moves through its post-boom correction phase. New purchase agreements (pending sales) for the week ending March 17 were 14 percent behind the same week last year with a little more 800 new sales, while new listings on the market grew by 10 percent for the same year-over-year comparison. There are currently roughly 29,000 single-family housing units for sale in the Twin Cities market; 19 percent of this total inventory is new construction.