Zillow rent index for Twin Cities metro jumps 11 percent in January

The Star Tribune reports this was the second-highest annual rent price increase among the top 25 metro areas. Meanwhile, Zillow reports home values were down more than 8 percent in January.
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The Star Tribune reports this was the second-highest annual rent price increase among the top 25 metro areas. Meanwhile, Zillow reports home values were down more than 8 percent in January.

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January home sales surge in Twin Cities

The 13-county metropolitan area had more than 3100 purchase agreements signed in January. The Pioneer Press reports that's a 25 percent increase compared to last January. The Minneapolis Area Association of Realtors credits record-low mortgage rates, home prices and the mild winter weather for the highest January numbers since 2005.

Home sales, prices continue uptick in Twin Cities metro

September was another good month for home sellers in the 13-county Minneapolis-St. Paul metro. The Business Journal says pending sales grew 11 percent last month, compared to the same month a year ago, according to the Minneapolis Area Association of Realtors. The median home sales price also increased 12.3 percent to $174,000 in the Twin Cities area, Finance & Commerce reports. However, the number of homes for sale dropped 29.4 percent -- the lowest level in nearly a decade.

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.

Home inventory in Twin Cities metro at 9-year low

The number of homes on the market in the Twin Cities was down more than 30 percent last month -- the lowest inventory levels in nearly a decade, according to the Star Tribune. The median home sales price in the 13-county metro area jumped 15.5 percent to $179,000 compared with a year ago.

Metro foreclosures expected to jump

Despite a drop in foreclosures in the Twin Cities last year, 2012 will not likely be the year that the housing crisis winds down. The Star Tribune reports that a moratorium on processing new foreclosures has ended, which will likely increase the number of local foreclosures processed in the coming year.

Homebuilders bullish as cost of renting rises, home prices stay low

Rents in Minneapolis have increased nearly 10 percent in a year, with home prices down nearly seven percent in that same time. Experts say that combination - plus an improving job market - sets the table for a surge of home purchases. Nationwide, housing starts are at their highest level in more than three years.