July  notes.
The market in the Twin Cities continues to show improvement. The Minnesota Association of Realtors says housing sales were up about 5% past month compared with June 2011. The association’s report shows the median sale price of a home in Minnesota is nearly $160,000 – up 10.4% from June 2011.  Homes sold in June 2012 sold for nearly 94% of original list price, an increase of 3.5% over June 2011. Nationally, the numbers are not as encouraging as Americans bought fewer homes in June 2012 than in May 2012 and sales dropped 5.4% in June 2012, the fewest since October 2011. Mortgage rates are still very low, actually averaging 3.53%, a 30 year record low.

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