Six months into the year home sales in the Twin Cities are struggling to keep pace with 2013, but the underlying fundamentals are far better than last year. Here's the June housing report based on data from the Minneapolis Area Association of Realtors:
- There were 5,531 closed sales, a 2.2 percent decline compared with last year.
- The median sales price of those closings was $219,900, a 4.7 percent increase and the highest since 2007.
- Pending sales increased 0.1 percent to 5,295. Of those pendings, there was an 11.8 percent increase in non-bank owned sales while foreclosure and short sale pendings fell 43.6 percent and 42.7 percent.
- Overall inventory levels were up 6.5 percent with traditional listings rising 23.7 percent. Foreclosure inventory fell 33.9 percent and short sale inventory was down 52.3 percent.
- There were 8,315 new listings, an 8.9 percent increase. Of those listings, non-distressed sales increased 19.4 percent while foreclosure and short sale listings fell 40.1 percent and 39.5 percent, respectively.
- Foreclosures and short sales made up only 9.5 percent of all new listings and only 12.6 percent of all closed sales - the lowest since May 2007 and September 2007.
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More from Star Tribune
More From Star Tribune
More From Star Tribune
Cannabis in Minnesota
Minnesota is the 23rd state in the country to legalize recreational marijuana for adults.
Home & Garden
Even common birds like the bluebird are full of mysteries
Despite conveniently nesting in manmade nest boxes, there are still lots of areas to study for Eastern bluebirds.
ThreeSixty Journalism
ThreeSixty Journalism is leading the way in developing multicultural storytellers in the media arts industry. The program is a loudspeaker for underheard voices, where highly motivated high school students discover the power of voice and develop their own within ThreeSixty's immersive college success programming. Launched in 1971 as an Urban Journalism Workshop chapter, since 2001 the program has been part of the College of Arts and Sciences at the University of St. Thomas.
Home & Garden
Osprey are the medium-sized raptors with the 'W' wings
Elegant fishing hawks becoming a familiar sight again in the metro area.
Variety
Summer Camp Guide: Find your best ones here
Kids can learn how to program robots, play chess, speak Chinese or dance hip-hop style, among other enrichment options.