The Rochester housing market is showing improvement. New numbers from November show the area grew closer to a balanced inventory due to a decrease in the number of homes for sale and a rise in pended home sales. Pending home sales were up 1 percent over last November; all told, 308 properties closed last month.
Some areas in Minnesota are reporting that the inventory of homes to choose from is the lowest since 2004. This has actually resulted in multiple offers on many properties, including traditional sale homes as well as foreclosures and short sales. In Rochester, active listings were down 12 percent and new listings were down 3 percent.