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Report indicates recovery in Twin Cities housing market

A new report from the Minneapolis Area Association of Realtors says median home prices rose to nearly $180,000 in July, its highest percentage gain in eight years. The report says the 14.3 percent increase over last year's prices came as the number of homes on the market declined and higher-priced traditional sales rose.
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A new report from the Minneapolis Area Association of Realtors says median home prices rose to nearly $180,000 in July, its highest percentage gain in eight years. The report says the 14.3 percent increase over last year's prices came as the number of homes on the market declined and higher-priced traditional sales rose.

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Twin Cities housing market continues to show improvement

Last month, the median sales price of homes jumped about 11 percent to $169,000 from the same month last year, according to a new report by the Minneapolis Area Association of Realtors. The number of pending purchase agreements also spiked 27 percent, while closed sales increased 21 percent. However, the inventory of homes for sale continued to fall in May.

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A report from the business school at the University of St. Thomas says low-priced homes are getting snapped up by first-time homebuyers and investors. Many are foreclosures, but conventional home sales are up, as well, with the median price just under $200,000.

Twin Cities housing market slowly improving

On a seasonally adjusted basis, the national S&P Case-Shiller index shows home prices in the Twin Cities jumped 1.3 percent from March to April, following a 0.8 percent gain from February to March. Prices were up 3.8 percent compared to April of last year.

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The Minneapolis Area Association of Realtors says despite another increase in sales, the median home price in the Twin Cities dropped 9 percent to $155,000.

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A new report from the Minneapolis Area Association of Realtors show median sales price rose 10.7 percent to $179,500 in the 13-county Twin Cities metro. Closed sales also grew 13.8 percent last month.

Home prices continue to bounce back in Twin Cities metro

Figures from the Minneapolis Area Association of Realtors show the median home price in the 13-county metro climbed to $175,000 in October -- up nearly 15 percent compared with the same period a year ago. MPR reports October was the eighth straight month of price gains. Pending and completed sales were also up last month.