Cold Weather will Hinder Already Chilly Housing Market

Monday, October 11, 2010

George Karvel, the Arnold and Leonard Mikulay Distinguished Chair in Real Estate at the University of St. Thomas Opus College of Business, said month-to-month sales will continue to decline the rest of the year. Pending sales were down slightly from August to September, according to the realtors association.

"Housing goes through a normal decline in the volume of sales once school begins," Karvel said. "I would expect that the decline in housing activity is not because of increasing economic problems as much as it is attributable to the normal slowdown that occurs in September, so I wouldn't be alarmed."

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Originally published: 10/11/2010, MPR.org