National Housing Disaster?

National statistics released last week regarding home sales, home prices, etc. were somewhat alarming. I received lots of calls. Please, please, please (enough emphasis?) do not be distracted from our local market by a national average. There are some pretty bad housing markets across the country that offset some really good markets - yes, overall the national average is down, but jumping out a window is not the best solution - try patience.

Make no mistake about it, homeowners selling today in the Twin Cities that have been in their homes less than 3 years may not have any appreciable gain on their sale, other than the considerable income tax benefit during their period of ownership. Like any investment, housing investments tend to payoff over the long haul - patient investors are rewarded.