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Pending Twin Cities Home Sales Up Last Month

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Aug 13, 2008 8:13 am US/Central

Pending Twin Cities Home Sales Up Last Month

MINNEAPOLIS (AP) ― The Twin Cities housing market is showing some positive signs. But real estate experts say it's too soon to call it a housing recovery.

Pending home sales were up 6 percent in July, compared with the same month a year ago. The Minneapolis Area Association of Realtors says it's the largest year-over-year jump in about 3 1/2 years, and the first increase at all in 2 1/2 years.

Closed home sales in July totaled 4,160, up 4.8 percent from the previous month but 8 percent lower than July 2007.

The Twin Cities' median home sales price continued to decline, reaching $208,000 in July. That's a slight increase from June but off 10.7 percent from July 2007.



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