Market Update

This past month, there were 3,082 pending homes, with an inventory of 23,794 homes on the market today in the Twin Cities. February median sales prices were at $142,500 throughout the Twin Cities in February – a drop of about 10.4% from this time last year, a number that is skewed by the tax credit incented market of last year. This week’s video on the Skinny is worth watching, just click on the link below.

The government is now thinking of not backing 3 out of 4 mortgages, letting the private sector take the risk – potentially making interest rates rise as well as threatening the economic recovery. More information on the current market: The Skinny.