Happy Days Are Here Again (Sorta)

Pending sales of homes in the Twin Cities jumped 15 percent in August, according to reports released Wednesday.

There were 4,411 pending sales last month, up from 3,834 during the same period last year, according to data compiled by the Minneapolis and Saint Paul Area Associations of Realtors. The study covers the 13-county metro area.

Year-to-date, pending sales lagged last year’s level by more than 10 percent.

Closed home sales for August were down more than 4.3 percent to 3,992 compared to the same month last year, when there were 4,173.

The median sale price for a home sold in the metro area fell 13 percent in August to $200,000, down from $230,000 one year ago.

In August, there were 7,532 new listings, down from 9,278 during the same month last year.