Reporting Steve Murphy
MINNEAPOLIS (WCCO) – There are more signs of recovery in the Twin Cities housing market.
Home sales climbed seven percent last month, compared with April of last year.
And that’s the second straight monthly increase.
Herb Tousley, professor of real estate at the University of St. Thomas, says the downtowns and inner ring suburbs are doing especially well.
NewsRadio 830 WCCO’s Steve Murphy Reports
“It seems to be that a lot of people, especially younger people coming up, want to buy homes that are either in the city or close to the city. And so those neighborhoods seem to be coming back a little quicker,” said Tousley.
Another positive sign is a 12.5 percent increase in median home prices, according to the Minneapolis Area Association of Realtors.
That median price? $163,000.