May 12, 2009 10:45 pm US/Central
Metro Home Sales Show Signs Of Improvement
ST. PAUL (AP) ―
There are continuing signs of improvement in the Twin Cities housing market.
The Minneapolis Area Association of Realtors says home sales were up 7 percent in April compared with the same month last year. But seasonally-adjusted sales figures were flat compared with March of this year.
The association says the median price of homes sold in April was $153,000.
While that's down more than 25 percent from a year ago, University of St. Thomas real estate professor says a higher number of foreclosure sales and sales where the lender forgives part of the loan are bringing the median down. The median price for traditional home sales was down only 8.5 percent from a year ago.
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According to the St. Paul Area Association of Realtors, the number of closed home sales increased 7.23 percent from one year ago. There were 3,353 closed home sales in the 13-county metro area in April 2009 compared to 3,127 in April 2008.
Compared to one month ago, closed home sales increased 9.2 percent, with 3,070 sales reported in March 2009.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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