Twin Cities Housing Market Sees Spike in Sales in April
MINNEAPOLIS (AP) - An industry group says April was the best month for the housing market in the Twin Cities area in nearly 10 years.
The Minneapolis Area Association of Realtors says buyers signed more than 6,300 purchase agreements last month in the 13-county metropolitan area. The group says that's the highest level since June 2005 and it's a 26 percent increase from a year ago.
Sale prices for homes also went up in the area last month. The industry group says the median sale price was $215,600, up 10 percent over last year.
Home sales are on the rise because of low mortgage rates, higher home prices and a drop in foreclosures.