The median sales price of a home spiked 14.8 percent and sales rose 15.1 percent over year ago levels, says the Minneapolis Area Association of Realtors regarding a 13 county area. The number of houses on the market rose 7.5 percent from a year ago October, as HousingWire tells MHProNews, as the median sales price reached $175,000 in the Twin Cities. Solid employment figures have spurred the economy as the distressed housing sector has been healing. Foreclosure and short sale listings have fallen, and foreclosure prices have actually risen 15.2 percent since October 2011. The month’s supply of inventory fell to 3.7 months, a low number that is likely to drive up prices even more.

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