Moderating Buyer's Market

The weekly market activity report from the Minneapolis Area Association of Realtors came out last night. While the supply of homes for sale in relation to buyers (Supply-Demand Ratio) is higher than it was last year at this time, it's lower than it has been since last August.

And "while sales are slower than last year at this time, they are behind at a lower rate than the market has seen in recent months, indicating a settling in the decline of buyer activity... The year-to-year inventory comparison reached a peak of 40-plus percent growth in the summer of 2006 and has been steadily declining ever since."

The updated Supply-Demand Ratio (SDR) of 7.54 means that in the month of February there will be 7.54 homes available for purchase for every expected new purchase agreement.

Click here to view the full 18-page report.