The front page of this morning's Star Tribune highlights that housing prices hit a 5-year high. Jim Buchta discusses how fewer foreclosures and a tight market led to price gains in our market in 2013.
With the number of available homes for sale at an 11-year low, and with sales rising to the highest level since 2005, our market is seeing gains in the median sales price by up to 14.4 percent.
The median sales price went from $230,000 in 2006 to $165,000 in 2009. We have seen this rise to $192,000 in 2013, a strong affirmation of housing recovery in action.
Click here to view Jim's acrticle.