Market activity

The Twin Cities Realtors Association said there is some evidence that the local market is on an upswing. January has been especially good for market activity.The average sale price of a home in the Twin Cities in December was about $286,000, according to the Twin Cities Association of Realtors.That's up 2.2 percent over the previous December.

Existing-home sales for 2006 are expected to come in at 6.50 million, the third highest on record, with a total of 6.42 million seen in 2007. New-home sales in 2006 should tally 1.06 million, the fourth highest on record, with 957,000 projected this year. This backs up the National Association of Realtors theory of a soft landing for the real estate market.

The real estate market has really started to heat up this week. Inventory continues to drop, interest rates remain low and the spring market is right around the corner.