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Housing Market Continues to Recover in Minnesota

Images_of_Money, flickr

MINNEAPOLIS (AP) – A new report shows slight improvement in Minnesota’s housing market.

The Minnesota Association of Realtors says housing sales were up about 5 percent last month, compared to June of 2011. Pending sales climbed 12 percent in the same time frame.

The association’s report shows the median sale price of a home in Minnesota is nearly $160,000 – up 10.4 percent from June of last year. And, homes are selling for closer to their original list price. Last month homes sold for nearly 94 percent of original list price – an increase of 3.5 percent compared to last year.

New home listings in June declined more than 16 percent, compared to the same time last year.

(Copyright 2012 by The Associated Press.  All Rights Reserved)

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