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    We were all hurrying to find Rosemount and School District 196 homes to buy this fall when low and behold,  the Congress agreed to give us more time to take advantage of the first time buyers tax credit.  Now we have until the end of April. Here in Rosemount we saw an uptick in home buying activity. We also started seeing multiple offers on homes that were priced right. Let's look at some numbers so you'll get a good idea about what's happening with home buying and selling in Rosemount. These figures come from the Southern Twin Cities Association of Realtors (STCAR).

    There's some good news and not so good news in the housing market in Rosemount. First, the number of homes sold is increasing. It's my opinion that the tax credit  plays a large part in that increased activity. During the month of November there were 28 homes sold. That's an i increase of almost 50% compared to November of the year before. Another bright spot for home sellers is the decreasing number of homes on the market meaning less competition. In November there were just over 30 homes brought to market. That's a decrease of about 25% from the year before.  Now the not so good news; prices paid for Rosemount homes continue to fall. In November the median price paid for a Rosemount home was $196,000. That's down almost $30,000 from November of 2008. Average prices were down about the same.

    How long does it take to sell a home in Rosemount? The numbers from STCAR shows some positive developments. Average time on the market to sell a Rosemount home in November was 79 days. That's a substantial decrease from one year ago when it took just over 130 days from the time the Rosemount home was listed until it sold.

    While there's been some positive movement in Rosemount area home sales the outlook is mixed. Economists tell us the likelihood of mortgage rate increases is good. The $8,000 tax credit for first time buyers (and the $6,500 credit for move up buyers) is soon to expire. Now I know as a Realtor I should tell you that anytime is a good time to buy. Let me say this: we have mortgage rates still very low and the tax credit is here now. This may be a window of opportunity that will close in late spring. If you're interested in talking about buying a  Rosemount or School District 196 home now be the best time to give me a call.