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Home Prices at an 8 Year High

May 11, 2012 |  Article By : 

According to the Minneapolis Association of Realtors, median sale prices went up 12.4% over last year to $163,000 which puts home prices at an 8 year high!  Home prices haven’t jumped that much year after year since 2004!

Traditional home sales rose 58.8% in April year-over-year, while foreclosures fell 8.1% and short sales grew by 13.8%.  Prices on traditional homes still fell 2.2% but foreclosure prices actually increased 15.9%.  Short sales are still on the increase and their prices were down 4.4%.  Housing inventory is also at it’s lowest point since 2004.

All these are positive signs for the housing market overall.


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