Midwest home sales surge 58% in November
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.