ST. CLOUD -- The real estate market continues its rebound from the Great Recession. Median home prices in the St. Cloud area are up 5.6% in November year-over-year, to just under $170,000.

Even so, Minnesota Association of Realtors CEO Chris Galler says there is good affordability right now with a strong economy, income levels up and low interest rates. He says Rochester prices are up 7% and Duluth is up 2.6%.

Galler says the housing inventory in the St. Cloud market is tighter than they'd like to see.  He says there is a 3.1 month supply of houses in the marketplace right now.  A 6-month supply is preferable so buyers can feel comfortable with their purchase and not feel they were rushed or overpaid.

The Minnesota Association of Realtors is projecting the St. Cloud housing market to be good in 2018 with a strong economy and low interest rates.

Galler says a new Tech High School should also be a driver of new home starts in the next two years as the school is set to open in 2019.