New data out Tuesday morning shows the housing market appears to have bottomed out and prices are up by more than 3 percent in a majority of America's largest cities.
FOX 9 News spoke with Richard McDeid, real estate broker with Our Home Real Estate, to learn what this means for buyers and sellers in Minnesota.
Watch the video for more information.
According to the Minnesota Association of
Realtors, in 2010 the average home in Minnesota sold for $180,000. That went
down to $170,000 last year but in 2012 prices went up 7.1 percent for an average of $182,000.