Weekly Twin Cities Real Estate Market Activity Report

Activity in the Twin Cities residential real estate market rebounded for the week ending December 2 following the annual Thanksgiving pause. New listings were 6 percent greater than the same week in 2005, the first year-to-year increase in weekly seller activity since August; however, pending sales were down by 15 percent relative to the same week last year.

Falling interest rates and seasonal price moderation have prompted the positive effect on affordability, and REALTORS® should emphasize this improved buying climate to consumers. Our market has bounced back near the affordability range that drove the boom market of the first half of this decade, which will motivate wise buyers to vacate their spectator seats to participate in a housing market that is in their favor.