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Article: Real estate market in Twin Cities area continues to boom; Low interest rates help boost median price, home-sale purchases in July.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- August 12, 1997
- Author:
CopyrightCOPYRIGHT 1997 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Home sellers and real-estate agents in the Twin Cities area continue to enjoy another boom year, as the number of home-purchase agreements signed rose in July and the median price continued to climb.
"It's a very good, very strong year," said Win Naughton, a board member of the Minnesota Association of Realtors. "Pending sales really jumped during July."
Sales pending, a term describing the signing of purchase agreements, totaled 4,222 last month, up slightly from 4,205 in June, and a 6.3 percent increase from 3,973 in July 1996.
"It just has been very busy," said Kathy Diffley, president of the St. Paul Area Association of Realtors. Diffley ...