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New housing report reveals promising signs of recovery but values still low

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Signs of the long-awaited housing recovery may be on the horizon according to the newest housing report from the Minnesota Association of Realtors. The group is optimistic about the industry, especially given the number of pending sales in the state.

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Pending sales were up 26.2 percent in May compared to transactions in May 2010. Pending sales are contracts that are written but not closed.

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