Tuesday, January 20, 2009

New President, New Real Estate Climate?

There's much "change" in the air around the world today. And there is also change happening on the streets of the Twin Cities metro area, as the number of new listings appearing in our Weekly Market Activity Report takes its ascendant year-opening uptick. Despite the increase, new listings for the week ending January 10 have not quite matched the numbers seen at this time period last year (down 7.6 percent), and pending sales are riding a healthy clip above where they were last year (up 19.4 percent) as more homeowners pour back into the market after the year-end transition.

As a summation of how most of 2008 went, total active listings for the year finished down 10 percent from the year before. Time will tell if the flurry of optimism associated with today's presidential inauguration will work its way into the economy, the housing market and, specifically, the Twin Cities housing arena. Hope meets anxiety at the crossroads of 2009.

Share this news with your friends. Click News at www.thebasilgroup.com .

Also, a reminder that the property tax assessor is currently valuing your property for the next tax year. For a glimpse at the value of your home, try our new MARKET SNAPSHOT REPORT. Get an SNAPSHOT of the market value of your home in minutes: Click or copy and paste the following link:

http://www.homeinsight.com/Widget/default.asp?UXEHAU0ZT63B

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