The Minneapolis Star Tribune reports today (Metro home sales fall for first time in 6 years, January 11, 2006) that home sales have dropped in the Twin Cities for the first time in six years.
Throughout the 13-county metro area, existing home sales last year fell 1.63 percent while the number of permits issued to build new housing units dropped nearly 7 percent.
For home buyers the news is good because while it hasn’t stopped house prices from rising, the rise has slowed slightly. Last year, the median sale price in the Twin Cities metro area increased a fraction over 6 percent to $228,000, according to the Minneapolis Area Association of Realtors. For more information, visit the full article.
Category: Twin Cities Area & MN Housing Market