Building Activity Drops in May as Existing homes for sale Increase

Twin Cities area home builders posted their sharpest decline in construction activity in 10 years this May.

That's 27% percent fewer permits and a 44 percent drop in new units compared to May 2005!

There are 14% more new listings on the Twin Cities market than last year at this time and pending home sales have fallen 18%.

The Realtors expect about 5.39 homes to be available for every purchase agreement in June, up from 3.14 in the year earlier period.

Dr. Bernanke is getting his wish of a slow down.

Barkly is OK with this..he is not planning on moving for at least 5 to 6 years....