Monday, January 08, 2007

Early January indicates a potential uptick in 2007

The holiday vacation will soon be over for the Twin Cities housing market, as activity for the week ending December 30 took its usual final and definitive dip for the year. Compared to the same week in 2005, conditions look relatively similar. New listings are 2 percent higher, while newly signed purchase agreements (pending sales) are only 1 percent behind. In the past two weeks, pending sales have been below the previous year's activity by only single digits, unlike the double-digit declines of the past several months. Time will tell whether this trend continues, but conditions are certainly ripe for a return of buyers.

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