This chart is based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC for the period May 1, 2008, through May 31, 2008. Clicking on the chart will enlarge the image so that it is readable.
Total number of listings for May compared to April is down by more than 1200 during a time when listings normally are increasing. A decrease in the supply of homes (inventory) is good for the market as there is less competition for each home that is for sale. The number of sold listings is up by a very small amount and pendings (houses that have purchase agreements but have not yet closed) are way down this month. Since spring is the time when sales are usually rising, the decrease in pending sales is unusual. It will be interesting to see what June statistics will produce.
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