Information released this week by the Minneapolis Association of Realtors show home sales in 2015 rebounded to pre-great recession numbers. They were up almost 14% over 2014 to a total of 56,390 sales getting close to the record of over 60,000 homes in 2005. Median sales prices were up 7% additionally.
It sure feels like sales were moving in 2015. Lots of homes in multiple offers. Low interest rates (and the constant threat of them going up) seem to motivate people finally to purchase. The upper bracket homes struggled, but as usual entry-level and move-up buyers were very active.