According to the Minnesota Association of Realtors Minnesota home prices are increasing! As I have previously mentioned the supply of homes is down and the buyers are out in full force creating a multiple offer situation on many properties. These factors appear to be leading to a price increase in Minnesota. Home sales in March 2012 were up 7.5% from March 2011 and median price on closed sales was up 7.1%! Sales have been rising the past few months but this is the first significant price increase. We are not out of the woods yet as we are in the spring market which normally has the highest sales and prices have dropped much more than 7% since the housing crisis began but it is a positive sign!