Minneapolis has been a bright spot in the U.S. housing market, and a new report shows just how strong Minneapolis homes sales have been recently.
Local prices soar
According to the Minneapolis Association of REALTORS®' annual Twin Cities Housing Market report, median home prices increased 11.9 percent in 2012 on a year-over-year comparison.The association expects that Minneapolis will continue to see gains in housing, falling in line with predictions of the U.S. housing market as a whole.
Minneapolis among leaders in price gains nationwide
The latest Standard & Poor's/Case-Shiller 20-city home index showed that home prices increased 3.6 percent across the board during the third quarter of 2012 on a year-over-year comparison. Of the 20 cities surveyed, 17 saw year-over-year gains.
This report showed that Minneapolis was among the leaders in home price gains, as home prices in Minneapolis increased 5.5 percent in November on a year-over-year comparison - the largest gain in six years years.
If you are looking to buy a home in Minneapolis, now is the time, as prices are expected to go up. To begin looking for a home for sale in Minneapolis, contact an Edina Realty Minneapolis real estate expert.