Twin Cities home sales fell in July as shortage of properties catches up to market

A shortage of new listings of homes for sale in the Twin Cities has led to a drop in closed home sales for the month of July.  The shortage of available homes for sale has continued to increase the median home sales price which was up 6.6% from last year to $239,900.  Homes priced nearest the median are driving the market with homes priced over $500,000 still lagging behind (days on market, sales activity, and price gains) the near median priced homes of the Twin Cities real estate market.

Full Article-Buchta, J. (2016, August 12). Twin Cities home sales fell in July as shortage of properties catches up to market. Minneapolis Star Tribune.

Retrieved from www.startribune.com

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