Twin Cities metro area homes sold at record pace last month

Published 10:21 am Tuesday, July 14, 2015

MINNEAPOLIS — Houses in the Twin Cities metro sold at a record pace last month.

According to a monthly report from the Minneapolis Area Association of Realtors, both closed and pending sales reached 10-year highs.

With buyers outpacing sellers in some parts of the metro area, houses on average sold in an unprecedented 66 days.

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In the 13-county metro area, there were 6,928 closings last month, a 22 percent increase over last year. New listings rose only 4.6 percent, leading the total inventory of listings at the end of the month to slip 9.4 percent.