The Minneapolis Area of Association of Realtors just released its weekly report last night.  All I can think of is “Where’s the inventory?”   Yes, that’s probably just a bit of hyperbole given that there are still 25,000 properties for sale in the Twin Cities 13 county metro area.  However, that is down from 30,500 a year ago.  Overall listing inventory is down about 12% from a year ago.  That is significant.

We also continue to see an acceleration in pending sales compared to one year ago.  Check out the uptick in the pending sales graph posted below: (Click on graph to enlarge in a new window).

New listings continue to track lower…down 13% compared to one year ago: (Click on graph to enlarge in a new window).

Overall listing inventory remains lower by 12% overall compared to last year: (Click on graph to enlarge in a new window)

Click here for the full report this week.