Monday, October 28, 2013

Home Sales Rise in Minnesota

A recent report by the Minnesota Association of Realtors (MAR) shows that home prices across the state were up 13 percent for the month of September when compared to last year.  Not only are home sales up but so are home prices, which the median price rose by 11 percent over last year.  The MAR tracks home sales in 13 different economic areas across the state. 

Minnesota’s housing market had a great month last month, but the same cannot be said nationwide. Across the country there were fewer existing home sales according to the National Association of Realtors (NAR).  Existing home sales were down 1.9 percent last month over August, which is better than what many economists were predicting.  September’s numbers may have been down slightly, but they came after we saw numbers in July and August at numbers that were increased to levels last seen in four years.

The median home prices across the country have risen by 11.7% over the last year according to the NAR. Mortgage rates are starting to stabilize and are once again near historic lows which economists feel will continue to help the housing market remain healthy nationwide.

If you are looking to buy or sell a home in Crow Wing County this fall, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156