The following is a brief summary of information from our REALTOR Associations Monthly Indicators Report.    FYI.....

2009 will go down in the history books as the year that the local housing market took large healing steps towards balance. In the Twin Cities 13-county metro area, total pending sales for 2009 ended at 52,167, up a strong 18.4 percent from 2008. That’s the highest number of units sold since 2005 and the strongest year-overyear increase in sales since 1998.

Low mortgage rates, historic affordability, pent-up demand and the Federal First-Time Home Buyer Tax Credit all worked in concert to encourage the buying resurgence. The Twin Cities Housing Affordability Index for the year was 202, a record high reflecting a more accessible market for buyers. Home sales below $150,000 jumped 72.0 percent from a year ago, as first-time buyers rushed to take advantage of the tax credit.

A lot of folks took the plunge into home ownership this year for the first time. That helped stabilize communities and absorbed some of the excess supply we had a year ago.

 

The latest 100 report follows. To maximize the size of The 100 for reading, INCREASE the percentage amount in the gray bar below, then use the scroll bars beneath the chart.

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