Metro home prices show mixed results

by Bill Catlin, Minnesota Public Radio

St. Paul, Minn. — Twin Cities' realtors associations are giving another mixed report about the local housing market.

The median sales price rose in January compared to the same month a year ago. That was the first year-over-year increase since July of 2006.

However, the median price for traditional homes fell 8 percent over the year. The median price for properties in foreclosure or involved in a short-sale rose 3 percent.

The total number of homes sold was flat compared to January of last year. On a seasonally-adjusted basis, homes sales fell 14 percent compared to December.