Minneapolis Inventory Versus Twin Cities
I was looking at the housing data that just came out today and I saw something very interesting. In Minneapolis the months supply of homes available for sale has increased to the highest levels since 2015, but it has decreased on average in the Twin Cities during that same time period. If you look at the graph you can see that every year Minneapolis home inventory compared to the rest of the market stay in line with each other. Did the protests and riots cause people to move out of Minneapolis? It is hard to say, but it is very interesting to see the supply of homes diverge like this for the first time in years. Winter is coming and it is getting cold fast. We are going to see a big drop in home sales over the next few months and I expect to see big decreases in average sales prices too.