July housing market offers mixed messages

Wednesday, August 17, 2011

The University of St. Thomas’s Real Estate Index, which is based on nine market indicators, increased from 784 in June to 799 in July; the index was 847 in July 2010. While closed sales were up 34 percent compared with last year, the report showed that the median sale prices of all closed sales dropped three percent from June to July, from $165,000 to $160,000. Compared with 2010 prices were down 8.5 percent. Excluding foreclosures and short sales, prices were down only 1.5 percent from June to July and down 10.4 percent from July 2010 to 2011.

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Originally published: 08/17/2011, Star Tribune Just Listed Blog