April 9, 2007

Current listing inventory - 242 active listings in Owatonna this week. Inventory has crept up again this week. Levels had been trending downward over the last several months and are still one home less than the high of 243 in October. Some of this weeks jump in inventory may be due to a number of listings taken to participate in the "Affordable Homes Showcase" on the 21st of April. Average days on the market in Owatonna has remained stable and is 135 days. Interest rates had been staying stable for the six weeks but have risen slightly and have now been at 5.875% for a 30 year fixed (still a great rate)for a two week period.