The data used came from the RMLS, (MLS) and is deemed reliable but not guaranteed. It doesn't come with a warranty either. This covers what is referred to as the 7 county metro area not to be confused with the 13 county metro are which covers the same area, plus six more counties.
I usually use paper towels to absorb the excess, last month I used Kleenex, next month this month I think toilet paper will do the job. There is not nearly as much inventory to absorb as there used to be, if this keeps up maybe next month q-tips or cotton balls will do the job. A year or so ago I used a picture of a wet/dry vac in my post, things have changed since then.
Anoka County - 7 Months
Carver County - 11 Months
Dakota County -7 Months
Hennepin County – 7 Months
Ramsey County – 6 Months
Scott County – 8 Months
Washington – 9 Months
Those homes on the market are being absorbed more quickly every month. The national news media likes to say that there are a lot of homes on the market. Maybe but there are almost half as many in the metro area as there were a year ago. Buyers are absorbing the homes at a faster rate and there are fewer homes on the market. Will someone please let the media that the number of homes on the market had declined? There is about a three month lag in reporting real estate trends.Home sales are up from a year ago and in February half of all local home sales were lender mediated which means they were shot sales of foreclosures.
To see absorption rates and housing numbers from prior months see the Local Market Conditions & home prices category
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