MINNEAPOLIS (WCCO) — Active listings in the Twin Cities were down 8.6 percent from September to October, according to a report from RE/MAX. Pending sales were down 3 percent. Real estate experts say there are still plenty of buyers sitting on the fence.
“Sellers, they know they have to be priced right and their property has to show good,” said real estate agent Mark Callender.
NewsRadio 830 WCCO’s Bruce Hagevik Reports
There is a high level of inventory but the number of foreclosed properties is down somewhat.
“The buyers know that there’s lots of short sale properties out there,” Callender said.
Agents anticipate a further slowing of the home selling market going into the winter months. But opportunities exist for potential buyers in the form of low interest rates, current home prices and a good inventory of homes for sale.