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Spring housing market: inventory down, buyer interest up

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Although eager buyers are looking for homes, the number of houses on the market in Minnesota remains low.

WCCO Radio reports that inventory is down more than 15 percent compared to last year.

New national figures released today show home sales at their highest level in three years, providing more evidence that the local residential market continues to rebound.

Minnesota Association of Realtors CEO Chris Galler told the station that all the elements arew in place for a strong spring market for, with prices are up more than 14 percent over last year. The median sales price for February was more than $142,000, compared to $125,000 for February 2012.

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