Although the number of homes sold in Minnesota has decreased slightly, the average price of those homes has actually increased. The Minneapolis Star Tribune reports that across Minnesota the number of homes sold in the first ten months of 2013 is 2.2% lower than those sold in January through October 2012, with only 6,599 homes sold this year. This is similar to the 3.3% drop nationwide.

But those homes that are sold are selling for an average 12.2% more, though the median price for a home in Minnesota is $175,000. The rise in home prices is attributed to both a lack of inventory and fewer foreclosure sales.