MINNEAPOLIS (WCCO) — Home sales are at their highest level in three years according to new national figures released on Thursday.

In Minnesota, the big story remains the lack of homes on the market, with inventory down more than 15 percent from last year.

READ MORE: AG Ellison Seeks Comments From Community Leading Into Derek Chauvin's Sentencing

Still, sales are picking up and homes are selling relatively quickly, according to Minnesota Association of Realtors CEO Chris Galler.

READ MORE: Security Changes Coming To The Minnesota State Fair

“Now that we’re coming out of winter, Parade (of Homes) is out there. A lot of people are looking at new homes, and those sellers that have been waiting for the market to recover will now enter the marketplace and move on with their lives,” Galler said.

MORE NEWS: More Than 200 Construction Projects Impacted If Transportation Budget Not Signed Quickly

Galler says with the exception of inventory, everything else is in place going into spring. Home prices are up more than 14 percent over last year. The median sales price for February was more than $142,000, compared to $125,000 for February of 2012.