The existing home inventory in the Twin Cities is growing and sales are down compared to a year ago, but median sale prices for homes continue to increase.
The median home price in June was $380,000, a 9% jump from the same month 2021 and an increase of nearly a quarter since June 2020, according to a Monday report from two local Realtor associations. Despite increasing inventory and relatively slow sales, home shortages will continue to sustain strong offers and keep prices high, the report said.
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