There were no fireworks in the Twin Cities real estate market as the week ending June 21st followed the trend of fewer listings and flat buyer activity. At 2061, new listings dropped 10.6% compared to the same week last year (2,308), bringing the total inventory in the Twin Cities metro area down to 33,725, 2.3% lower than last year at this time. Buyers took an early summer holiday writing 875 purchase agreements, 16 fewer than last years 891, making this the 9th week of the past 11 with new purchase agreements within 5% of the previous year. Dramatic decreases in new listings accompanied by flat sales figures will balance the supply/demand ratio, but not as quickly as anyone would like.

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