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Home prices climb

July 1, 2002

Author

Rob Grunewald Regional Economic Analyst

The median sales price of existing single-family homes reached $173,000 in Minneapolis-St. Paul during first quarter 2002, a 14.6 percent increase over a year earlier. Meanwhile, median home prices for Sioux Falls and Fargo-Moorhead reached $112,800 and $102,900, respectively, and increased much less than Minneapolis-St. Paul. The median sales price in the United States was $150,900 in first quarter 2002, an increase of 8 percent from a year ago.

Chart: Percent Change in Median Sales Price Existing Single-Family Homes
Source: National Association of Realtors

Rob Grunewald
Regional Economic Analyst

Rob Grunewald conducts research on regional economic and community development issues. He is a national leader in research on the economic impact of early childhood education.