Twin Cities home prices, sales rise in October

6:03 PM, Nov 12, 2012   |    comments
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ST. PAUL, Minn. - Twin Cities home sales and prices rose in October.

Minnesota Public Radio News reports the median home price climbed to $175,000, up nearly 15 percent from the same period last year. October was the eighth consecutive month of price gains.

Prices were up for traditional homes, and foreclosures and short sales alike.

Pending and completed sales also rose from last year.

The Minneapolis Area Association of Realtors says reduced supply of homes for sale and greater demand are playing a big role in helping the Twin Cities housing market recover.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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