The Twin Cities real estate market in 2008 had many changes to it. Here are a few highlights:

1. Housing affordability went up 17% for the year from 2007.

2. Total homes sold were down 3.3% and total sales volume was down 16.6%

3. Lender mediated sales grew from 10.4% in 2007 to 31.7% in 2008.

4. New construction sales were down from 2007 by 26%.

5.The greatest increase in median price was in Southern Dakota County at 7.3%.

6. The greatest decrease in median price was in Minneapolis North at 47.3%.

Enclosed is the real estate review with every area and suburb with a vast amount of information. As a real estate professional I always look forward to meeting with people to help decipher this information and what it means.

http://www.mplsrealtor.com/downloads/market/RREAR/RREAR_2008.pdf