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Jerry Clifford

May Real Estate Activity For Edina MN

The month of May homes closed were was down from April. On the positive note pending (agreed upond purchase agreements) had a significant increase from April. The importance of this is that when a home goes pending status it is usually scheduled to close in the following month. In this case June "Solds" should have a significant increase.

While the market has improved with some staggering percentages, Edina real estate has seen a slow down.

Year To Date for Edina Home Sales is down 21% from 2008, with an Average saleMay Real Estate Activity For Edina MN price decline of 5.4%. Cummulative Days On Market is also down which is good as the homes new listed have an average days on market less than 2008.

Edina homes for sale has a higher than desired number of homes on the market with a significant amount of new listings in May.

Over all the Minneapolis / St. Paul real estate market is showing strong sign of improvement. Currently there are 7.6 months of supply on the market. This is 28.6 % less than last year.

Iformation provided by the regionalRMLS MLS listing system. Edina home sales numbers are for single family homes under on million in sale price.

Listen to "The Skinny" for overall Minneapolis real estate update produced by the Minneapolis Board Of Realtor each month.

Eden Prairie MN Foreclosures

Twin City metro communities taking action against the high rate of foreclosure. Eden Prairie MN appears to be proactive in the attempts to keep homeowners in their homes.

Eden Prairie Housing and Community Service Dept has been diligently networking with the US Department of Housing and Urban Development (HUD) to make loans less than $10,000 per household where appropriate when home owners are struggling to stay in their home.

The monies to fund such a program is being proposed to come from the city's allotment of close to a quarter of a million under the federal Community Development block Grant Program. To date, HUD has implied the current rules aren't applicable. To assist such situations. Will this change in the near future? Will it be beneficial for those distressed home owners enough to save their home. Only time will tell if the city is successful in working with HUD to change the rules.