Market Flat In Preparation For Winter

Market Flat In Preparation For WinterThe Twin Cities housing market is holding steady after both sales and prices reached record highs this year. In October, new listings were up 3.1 percent compared to last October but are on-track for a 2.0 percent decline for the year. Pending sales rose 3.9 percent for the month but will likely be flat compared to all of 2016. Closed sales eked out a 0.3 percent October gain but are also likely to be flat for the year. The number of homes for sale decreased 18.0 percent to 11,221. Absorption rates contracted as well.