Weekly Real Estate Update
July 24, 2012
|It’s been a relatively pleasant year for the business of residential real estate. Case in point, the June 2012 NAHB/Wells Fargo Housing Market Index (HMI) rose to its highest level since May 2007. And for the first time since 2005, housing is on track for being a net positive contributor to national GDP in 2012. Speaking on behalf of America, it’s about time. Throw in some real price gains, and you can expect holdout buyers to be less afraid of buying and sellers to be less afraid of listing.In the Twin Cities region, for the week ending July 14:
• New Listings increased 6.2% to 1,536
For the month of June:
• Median Sales Price increased 10.4% to $179,000
As reported by the Minneapolis Area Association of Realtors.