Twin Cities housing market remains sluggishby Martin Moylan, Minnesota Public Radio
St. Paul, Minn. — The Twin Cities housing market is still a bit chilly.
November home sales were down 19 percent compared with the same month a year ago. Sale prices remain soft, as well. The median sales price of an existing, single-family home has slipped about 2 percent since the end of 2006.
But Steve Hyland, President for the Saint Paul Area Association of Realtors, says it's a good time for buyers to take advantage of the market.
"It remains a very positive market for people who kind of want to look inside the numbers," says Hyland. "For people who want to buy a home, we're seeing some very positive things going on with FHA financing, as an example, that makes it pretty attractive."
Hyland says he see some signs of the market turning around for sellers.
The inventory of homes for sale is down slightly. And the time homes are on the market before selling has stabilized.