An article in the February 26 edition of the Star Tribune reports that in December there was a 12% increase in the housing prices in the Twin Cities. That may be good news for people who have postponed selling their home due to a soft market. Nationally home prices peaked in 2006 and in December 2012 prices in the Twin Cities were up to the average of 2003 prices.
But is the housing slump over yet? Probably not. According to the National Association of Realtors there are less homes on the market today than the last seven years leaving a big gap in the supply of available homes.
For more information on housing prices in the Twin Cities visit The Builders Association Of The Twin Cities. http://www.batconline.org/
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