In December, home sales increased 2.6 percent while prices gained 4.1 percent, according to a year-end report from the Minneapolis Area Association of Realtors. Those modest monthly gains capped a year of extremes in which there were nearly 60,000 home sales, a 6.2 percent increase over the previous year and by a very narrow margin the third-most in history.

The median price of those sales last year rose to a record $232,000, 5.5 percent higher than the previous year and a nearly 40 percent increase since 2012.  Read full article here.  Source: Star Tribune.