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December 2011 Twin Cities market overview
Strands upon strands of holiday lights adorn homes and trees this time of year, and parts of the local housing market seemed to light up in November, too. In the 13-county Twin Cities metropolitan area, the months’ supply of inventory decreased to 5.7 months, according to the Minneapolis Area Association of REALTORS® (MAAR). Generally, 5 to 6 months is considered a balanced market when buyers and sellers are on a more level playing field. Other bright news came from pending sales, which were up 30.2 percent over last November, showing that houses are indeed moving once placed on the market.
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