Tuesday, February 13, 2007

Home Sales Slump Slows

Home Sales Slump Slows; Buyers Still in Charge (Star Tribune, Feb. 12th): "Minneapolis/St. Paul, Minnesota Realtor Ass'ns: Signs of recovery from the deep doldrums of late 2006... Pending sales for January were down 6% from January 2006, compared with double-digit declines during much of 2006. That's about 600 fewer transactions than were posted when the market peaked in 2003 and still within historical averages... Inventory remains at record highs, but the increases have been much more moderate than during most of 2006, when monthly listings jumped as much as 40%. Last month, the number of new listings was up 5%."