Here are some late June housing statistics (analysis costs extra). All info is for Edina Realty.
–Drop in showings since expiration of Buyer tax credits April 30: 40%
–Drop in “Pending” sales since expiration of Buyer tax credits: 40%.
–Percentage of Buyers who are first-time: 48%
–Percentage of homes sales under $250k: 80%
The narrative that accompanies the foregoing? Pretty self-evident.
P.S. Statistical averages are just that. For example, the neighborhoods close to Cedar Lake in Minneapolis (Fern Hill, Lake Forest, Sunset Gables) have been bucking the over all trend, with 8-10 pending sales in just the last two weeks.