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Cathy Wurzer

Home sales in Minneapolis lags nation

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The National Association of Realtors says sales of existing homes plunged in July to their lowest rate in 15 years -- dropping 27 percent from the year before. And the drop for the Twin Cities market was significantly larger than that. Home sales here fell a whopping 42 percent.

MPR's Cathy Wurzer spoke with Jeanne Boeh, the chair of the economics department at Augsburg college in Minneapolis.