A new report from the Minneapolis Area Association of Realtors says median home prices rose to nearly $180,000 in July, its highest percentage gain in eight years. The report says the 14.3 percent increase over last year's prices came as the number of homes on the market declined and higher-priced traditional sales rose.
Watch: Storm updates after heavy hail slams Twin Cities
Sven Sundgaard is providing an update after Thursday's flash hail storm.
MN GOP apologizes over antisemitic sequence in candidate's campaign video
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Tornado, severe thunderstorm watches issued in Minnesota
In addition to possible tornadoes, there is a threat for damaging winds and very large hail.
High prices, stiff competition putting off homebuyers in Twin Cities
Prices continue to rise in the metro, but there are signs of buyer fatigue.
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The blast rocked the Wisconsin town just before 7:45 a.m.
MN researcher part of team behind 'revolutionary' discovery of ancient tooth in Laos
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Nominate a 'local hero' to get a dozen Cub donuts from Salvation Army
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Twin Cities housing market continues to show improvement
Last month, the median sales price of homes jumped about 11 percent to $169,000 from the same month last year, according to a new report by the Minneapolis Area Association of Realtors. The number of pending purchase agreements also spiked 27 percent, while closed sales increased 21 percent. However, the inventory of homes for sale continued to fall in May.
St. Thomas report shows optimism about Twin Cities housing market
A report from the business school at the University of St. Thomas says low-priced homes are getting snapped up by first-time homebuyers and investors. Many are foreclosures, but conventional home sales are up, as well, with the median price just under $200,000.
Twin Cities housing market slowly improving
On a seasonally adjusted basis, the national S&P Case-Shiller index shows home prices in the Twin Cities jumped 1.3 percent from March to April, following a 0.8 percent gain from February to March. Prices were up 3.8 percent compared to April of last year.
Low appraisals complicating Twin Cities housing recovery
The appraisal process has become a headache for many home buyers and sellers in the Twin Cities metro. Real estate agent Steve Fiorella told KARE 11 he has struggled to get the appraisal to match the purchase price for about 20 percent of his transactions so far this year. But a misappraisal could have serious consequences, even prison.
Home prices continue to bounce back in Twin Cities metro
Figures from the Minneapolis Area Association of Realtors show the median home price in the 13-county metro climbed to $175,000 in October -- up nearly 15 percent compared with the same period a year ago. MPR reports October was the eighth straight month of price gains. Pending and completed sales were also up last month.
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