Housing prices show significant jump
Another positive sign that the housing market is shoring up. WCCO cites a report showing home sales increased nearly 20 percent last year in the 13-county Twin Cities metro area. That's the strongest year since the mortgage crisis began in 2006.
The Minneapolis Area Association of Realtors reported that buyers purchased 48,641, a 16.9 percent jump from the previous year.
More good news: the median sales price for homes went up by 11.9 percent to an average of $167,900, and inventory levels dropped to a 10 year low.
Earlier this month, a report from the Builders Association of the Twin Cities found that construction permits for residential housing in the metro nearly doubled in last year compared to 2011.
