Record Low Home Inventory In Twin Cities
Home inventory in the Twin Cities is at an all-time low. Right now there is only a 1.7 months supply of homes available for sale. This means It would only take 1.7 months to sell all the inventory on the market today if no more inventory came to the market. So this is going to be a tough year for buyers as there will be multiple offers on most great properties. You want to be extra careful and do your due diligence during your showings and home inspections. During the excitement of touring properties I often see buyers overlook problems on the home, but you want to make sure you look for all the potential problems as well. Most homes are not in perfect condition and will need some type of work so it is good to get an estimated cost on those issues before you buy. When prices are increasing this fast it is more important then ever to buy a great home that isn't going to give you a bunch of problems after you move in. So stay level headed and take your time. If you need help buying or selling this year give me a call!