Twin Cities home prices rise as sales slow

A prominent national report shows further evidence of rising home prices in the Twin Cities.

According to the S&P/Case-Shiller report, home prices in the region rose 10 percent in August compared to the same month last year. The broader 20-city index posted a larger gain.

The report lags releases from local realtor groups by two months.

While home prices are improving, recent data suggest that sales may be slowing.

The Minneapolis Area Association of Realtors reports that pending sales have shown year-over-year declines in recent weeks.

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