© 2024 Michigan State University Board of Trustees
Public Media from Michigan State University
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Midwest home sales surge 58% in November

By AP

OMAHA, NB –
Home sales remained strong in the Midwest in November as buyers sought to claim federal tax credits, so sales jumped 58% over last year's dismal market.

The National Association of Realtors said Tuesday that 106,000 sales were completed last month in the 11-state region. The Midwest's median home price slipped less than 1% to $140,800 in November.

All 12 major Midwestern cities tracked in the Associated Press-Re/Max Monthly Housing Report, also released Tuesday, showed annual increases in sales in November. The sales gains ranged from a 19% jump in Detroit to a 94% increase in Omaha.

Seven of the cities reported annual increases in median sale prices, including increases of roughly 30% in Detroit and Cleveland.

Journalism at this station is made possible by donors who value local reporting. Donate today to keep stories like this one coming. It is thanks to your generosity that we can keep this content free and accessible for everyone. Thanks!