Yes, that’s right! Buying a home is still on the list for 2016. Despite Mother Nature’s cold blast and snow, buyers are still ready to finally have their wish of new home come true! In fact, according to the Minneapolis Area Association of Realtors (MAAR), pending sales are up from this time last year. So why don’t all buyers just head out to get their dream home? Lack of homes to buy! Inventory continues to decline week after week. As of December 3rd, MAAR cited a 2.1 month supply of inventory! That is down almost 28% from last year, a common theme for most of 2016. What these numbers don’t show is the pace of the market and the number of multiple offers. In the past month, most of the offers we have represented for our clients have been in competition. We truly don’t see this slowing down as demand is still high despite new listings being low (down 14.7% from this time last year). Let’s hope more sellers add “Sell my Home” to their New Year goals!
