minnesota association of realtors

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.

Recent figures from the National Association of Realtors shows the supply of homes for sale has fallen on a yearly basis for 21 consecutive months. Those numbers mirror what's happening in Minnesota too.

Minnesota home prices continue to climb thanks to low interest rates, a healthy economy and a lack of new listings.

A healthier economy is helping the housing market rebound. RealtyTrac, a company which tracks foreclosures in the U.S., has released their 2014 foreclosure report. It shows the number of properties repossessed by banks was down considerably in 2014 from the year before.

Minnesota home sales are making a strong recovery so far this year.

Home sales were up significantly in the St. Cloud area in 2012 compared to the year before.

St. Cloud area home sales are down by about 17-and-a-half percent for the first half of the year. But, that's no real surprise to Russ Portele who is the branch Vice President for the Coldwell Banker Burnet office in Waite Park. He says last year's numbers were artificially inflated becuse of the $8-thousand first-time home-buyers tax credit.

Home sales in the Tri-County area, made up of Stearns, Benton and Sherburne counties, dropped 15.2-percent in 2010.