Home Prices Still Dropping In Twin Cities

Thursday, September 22, 2011

Home prices in the Twin Cities continue to fall. On average home prices in August were down 11 percent from the previous year, according to the Minneapolis Area Association of Realtors.

The same report shows homes are on the market for an average of 136 days, nine days longer than August of 2010.

“People just aren’t as apt to make a big commitment if they’re concerned about their job and the economy,” said Herb Tousley, the director of Real Estate Programs at the University of St. Thomas. “It tends to make people hold back.”

Read more: http://minnesota.cbslocal.com/2011/09/22/home-prices-still-dropping-in-twin-cities/

Originally published: 09/22/2011, WCCO-TV