My tulips are blooming and I just had to take a picture of them. When the yellow blossoms are finished the orange will start blooming and then the pink and the red. I thought they would look nice with this months numbers too. Flowers kind of dress real estate up. The Minneapolis board of Realtors released some information this week about the number of homes on the market in the 13 county metro area that are in some stage of foreclosure. Stages include short sale and bank owned homes. They came up with a number of around 20%. The number blows my mind.
One of the findings of the study that is important to note is that homes that are not going through foreclosure are not experiencing as sharp of a price decline as those that are. It is also true that real estate is so local that home appreciation and depreciation varies by county and by city and right on down to the neighborhood level which is why I publish these numbers of my own each month. The number of homes that are going through some stage of foreclosure are having a significant impact on the housing market.
The date is gathered from the MLS. The data in the MLS is deemed reliable but not guaranteed. This data is for April 2008 for single family homes which includes condos. Homes that are pending have had offers made on them and have not yet closed. The prices are the actual sales prices of all homes that closed during the month of April. Average sale prices are up from last month which is a good thing but they are still down form last year.