Home Sales Rise Locally, Nationally

Posted by Minnesota Real Estate

March 28, 2008

(WCCO) There is good economic news on the housing front. Nationally, home sales rose 2.9 percent from January to February, and in Minnesota, they rose 2 percent. It’s the first real sign real estate may be on the rebound.

That uptick in sales is just what sellers like Molly Evans want to hear.

“I think that’s a really positive thing especially with spring coming and the snow melting people are out looking,” said Evans.

Lower end homes in the $100,000 to $150,000 dollar range are hot right now especially in Minneapolis. So is anything a first time homebuyer might consider.

The news is not all rosy. Home sales year to year are down 24 percent nationally, but only down 10 percent in 13-county Twin Cities metro area. The homes people are having the most difficulty selling are the higher end $700,000 to $800,000 dollar homes.

Source: Terri Gruca, WCCO

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