Jim Buchta, Star Tribune, 091515
For Twin Cities home buyers, the waning days of summer are typically a time for browsing. Not this time around. With house listings in short supply, sellers are in the driver’s seat and buyers are on edge.
“It was much tougher than we expected,” said Mike Takalo, who, with his wife, last month closed on a house that was the seventh one they offered to buy since February. Among the six rejections was one in which they offered more than $30,000 over the listed price. “The emotional roller coaster was hard to handle,” he added.
The imbalance between buyers and sellers grew in the metro area last month, new data showed Monday.
Home sales increased 7.8 percent, but new listings were flat, causing the total number of…