Summer Market Update

Summer Market Update

The summer market is expecting to get much busier with more homes being sold and more homes being listed. According to The Twin Cities Skinny, the number of closings has increased by 14.4 percent since last year due to the number of eager buyers increasing. The average house is on the market for 61 days, and the homes for sale have increased by 54 percent. According to MMG weekly, builder’s confidence is rising and the National Association of Home Builders Housing Market Index rose five points to 59, the highest since September 2014.  Expect to see more and more new construction homes relieving supply demands. Also, with a new restaurant being built on Prior Lake, the lake community will continue to flourish.