Housing Market Continues to Recover in Minnesota

MINNEAPOLIS (AP) - A new report shows slight improvement in Minnesota's housing market.

The Minnesota Association of Realtors says housing sales were up about 5 percent last month, compared to June of 2011. Pending sales climbed 12 percent in the same time frame.

The association's report shows the median sale price of a home in Minnesota is nearly $160,000 - up 10.4 percent from June of last year. And, homes are selling for closer to their original list price. Last month homes sold for nearly 94 percent of original list price - an increase of 3.5 percent compared to last year.

New home listings in June declined more than 16 percent, compared to the same time last year.

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