The Minneapolis Area Association of Realtors released its latest weekly report just minutes ago and overall listing inventory across the Twin Cities metro is down for the second consecutive week. They are also reporting that pending sales activity trailed last year by only 5.3% for the week. If the pending sales trend continues along with the decline in over inventory for sale, this ship might well be on its way to improving.
Once the market turns, I am not expecting a rapid rise in pending sales but rather a slow steady climb out of the basement that has been 2008. It seems very unlikely to show the kind of activity demonstrated in Southern California recently….see post below.

