Today’s Housing Market
The general public — and particularly Sellers — may not have absorbed the reality of lower housing prices. But Realtors sure have.
Three years ago, a $200k deal was nothing to get excited about (to say the least).
Now, it qualifies as an above average transaction in the Twin Cities (completely true; many foreclosures, which have accounted for half of all sales for much of the last year, aren’t much over $100k).
In fact, as commented here previously, the drop in prices is not as bad as the reported numbers indicate.
But the reality is, foreclosures pull down all housing prices, and there are still plenty of them on the market, both locally and nationally.