It Happend Agian!

Wow! The Minneapolis Area Association of Realtors reported this that pending sales are up 28.7 percent over last year and new listings went up compared to last week with 2,055 for the week ending April 4, but still is 11.2 percent behind the same week a last year. Current supply of homes on the market in the region is at a little over 26,000, 17.5 percent below this point last year. Thus moving closer to a balanced with a market absorption rate of 7.7 month's, still a buyer’s market (a balanced market is 4 - 5 months’ supply). Absorption rate is the number of months it will take for the current supply of available properties to become pending/sold. Now you tell me this isn't good news.