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Housing Market Stats

February 4, 2013 |  Article By :   | 

up arrowHousing market stats for 2012 are still rolling in and I have a few more that are specific to the Twin Cities area from Herb Tousley of the University of St. Thomas.  In 2012, the average price of a sold home in the Twin Cities went up about 10%. In the height of the housing crisis there were about 20,000 homes on the market in the Twin Cities, but at the end of 2012, there ware only about 14,000.  The other positive number is that of distressed properties which made up some 55-60% of homes sold on the market in the height of the housing crisis and now make up about 40%.  While this number is still high, it is significantly lower than it was and is continuing on its downward trend.  The signs are all pointing to a good year in real estate in 2013.

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