Weekly Market Activity Report

Here's the weekly twin cities real estate update from MAAR:
Buyers and sellers in the Twin Cities residential real estate market aren't immune to historic snowfalls and blizzard conditions. For the week ending February 24 when the region saw the first of two monumental winter storms, new purchase agreements (pending sales) held relatively steady with the previous week rather than taking part in the annual uptick we typically see in late February. Compared to the same time in 2006, pending sales were 16 percent behind and new listings were 4 percent ahead. MAAR expects a similar stagnation to persist in next week's numbers due to the second stronger storm system seen in the first few days of March. This week's edition of the MAAR Weekly Market Activity Report features an updated Supply-Demand Ratio (SDR) for March 2007 of 5.77. This means that there are approximately 5.77 homes on the market for every projected buyer in the month of March. The SDR typically reaches its lowest point in March of every year before rising alongside seller activity in the spring market. Compared to one year ago, the SDR for March 2007 is 29 percent higher.