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Here are the Numbers for Month Ending December 31st, 2012 (except where noted below).  Sales were identical to one year ago.  Average prices are down due to more lower priced Foreclosure listings on the market and selling in December of this year.  I look for the average home price to equalize in the coming months as the weather warms up, the days are longer, and more non-foreclosure buyers flood the market. 

Home Sales Rochester, MN:
December 2011 - 105
December 2010 - 105

Average Home Sale Price Rochester, MN:
December 2011 - $144,622.60
December 2010 - $174,974.87

Monthly Absorption Rate Rochester, MN:
December 2011 – 5.94 Months
December 2010 – 7.52 Months

Rochester, MN Area Home Interest Rates as of January 2012:
Conventional 30 Year Fixed – 3.875%; no change from last month
Conventional 15 Year Fixed – 3.275%; up from last month
FHA/DVA 30 Year Fixed – 3.875 %; no change from last month
USDA Rural Development – 3.75 no change from last month

Affordability Index Nationwide as of 11/30/2011:
November 2011: Median Sales Price = $164,100; Interest Rate = 4.33%; Monthly Payment = $652.00; Payment as % of Total Income =12.90%.

November 2010: Median Sales Price = $170,900; Interest Rate = 4.54 %; Monthly Payment = $696.00; Payment as % of Total Income =13.80%.