Housing Market Uptick?

Driven by bargain hunters and first-time buyers, the metro market is gaining momentum.

November 12 2008 - Joel Jordan is doing what he can to help the economy — and the housing market. After looking at about 40 houses — most of them foreclosures and fixer-uppers that were unappealing to a busy guy who has never owned a home before — he fell in love with a three-bedroom split-level house on a big lot in Stillwater that was too rich for his budget. A week later, he was pleasantly surprised when the sellers dropped the price by nearly $30,000.

“It wasn’t like I was forced to buy; I just think the timing was right and I could get a good deal,” said Jordan, whose deal closed at the end of last month. “And I didn’t have a house to sell, so it was perfect for me.”

Despite an almost daily dose of dim economic news, but driven by bargain hunters and first-time buyers such as Jordan, the housing market in the Twin Cities metro area is gaining some momentum.

Housing market uptick?
by JIM BUCHTA | Star Tribune