The Big Picture

by Teresa Boardman, on 20 February 2008

This chart comes from the Minneapolis Area Association of Realtors. I have to say they do a great job with the statistics. The chart shows listings and sales for the Twin Cities metro area from 1998 to the present. (Click on chart to make it larger)

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Mike Long says:

February 20, 2008 at 10:00 am

That’s great information. It’s amazing how the lines used to flow as one and now you see them heading in opposite directions. Puts a visual on what is going on out there. Interesting to see it go down just a touch from 1998 to 1999. If I’m not mistaken that is when interest rates started creeping to almost 8%. Just shows your how the rates these days are still fantastic. Lots of places out there to look at. Good for our buyers!!

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Erik Hare says:

February 20, 2008 at 10:24 am

Wow. You can really see the divergence in 2004.

If I had some free time, I think I’d do my own graph of New Listings minus Pending Sales, as a percent to Pending Sales. In 2000, that was about 0.2, but in 2004 it was about 0.5. Today it’s around 1.4. I’ll bet we can see something like this coming a lot more clearly than people realize.

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Larry Cragun says:

February 20, 2008 at 12:54 pm

Very interesting

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Patient Buyer says:

February 21, 2008 at 10:49 pm

Ya know, one thing I really love about this blog is that it is entirely reality-based and open to various interpretations of the data.

I’ve tried posting on other RE blogs and my comments are never approved on some of them. I get the feeling that those blogs (re-unclothed.com, or something like that) are interested in squelching anything other than happy thoughts.

Thanks again, Teresa for letting us all in, even if we are prophets of doom.

PB

P.S. – Even I admit at one point in the future, all will be sweetness and light and people will be crazy not to be buying RE with both hands.

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