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Minn. Home Sales Rose 8 Percent in Oct.

Posted at: 11/20/2012 6:20 PM

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MINNEAPOLIS (AP) - Minnesota home sales rose 8 percent in October, thanks to record low mortgage rates and strengthening consumer confidence.

But a monthly report from the Minnesota Association of Realtors says the gains were not felt evenly across the state.

Minnesota reported 7,662 closings in October, an 8 percent increase from last year. The median price of those closings was $152,000, a 9.4 percent increase from last year.

The report tracks home sales in 13 multi-county economic development regions. The Star Tribune (http://bit.ly/TeuGeH) reports that while most of those regions have seen a steady increase in home sales over the past year, a handful are lagging. In six regions the number of closings was either flat, or had fallen compared with last year.

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Information from: Star Tribune, http://www.startribune.com

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)