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Monthly real estate report: prices up, sales down

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The housing market in Minnesota has, predictably, cooled with the weather.

MPR is quoting the S&P/Case-Shiller report, which shows evidence of rising home prices in the metro area. The prominent national report shows prices in the residential real estate market rose 10 percent in the region in August compared to the same month last year.

The Star Tribune reports that the housing recovery in the Twin Cities appears to have been more consistent that in most other metropolitan areas of the country. The Twin Cities has recorded 19 consecutive months of year-over-year increases, outperforming most of the nation.

MPR adds that recent data indicates that sales may be slowing. The Minneapolis Area Association of Realtors reports that pending sales have recently shown year-over-year declines.

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