Traditional Home Sales Are On The Rise

After increasing by $12,000 from April to May, the median sales price in the Shoreview and Roseville housing markets jumped another $8,500 in June as traditional homes again increased their market share. Traditional homes are defined as those excluding foreclosures and short sales.

Of the 4,764 closed sales in the Twin Cities during June, 40.7% were lender-mediated foreclosures and short sales, down from the 59.7% seen at the beginning of the year. While that percentage is still too high, it’s a definite improvement from six months ago. It also is another indication that the low rates and tax credit are helping to encourage traditional home sales.