Skip to main content

Twin Cities housing market continues to rebound

  • Author:
  • Updated:
    Original:

Minneapolis-St. Paul home prices in December climbed 12 percent compared to the same month a year a ago, according to Standard & Poor's Case-Shiller index -- which tracks home prices in 20 major U.S. markets.

Nationally, property values increased 6.8 percent from December 2011, the biggest year-to-year gain since July 2006, according to Bloomberg News.

Minnesota Public Radio says the metro finished 2012 with their strongest gains in more than a decade, but prices are still roughly 26 percent below their peak.

A new real estate index released Tuesday from the University of St. Thomas found that home sales in the Twin Cities were up 11 percent last month compared to a year earlier, WCCO reports. The average price of a home was also nearly 4 percent higher than January of 2012.

[preserve][/preserve]

However, experts are concerned with the lack of inventory on the market.

"Single-family homes are still the hottest," Brandon Hedges, an Eagan-based real estate agent, told Fox 9. "Starting to see townhomes come back -- been quite a while. Condos are lagging in most cases, but it depends on price and location."

[preserve]KMSP-TV[/preserve]

The annual spring Parade of Homes in the Twin Cities, which typically helps boost the housing industry, will kick off on Saturday and run through Mar. 24.

The Star Tribune says there are 374 new homes on the tour -- up 22 percent from last year.

Next Up

SuspectsWantedMOAShooting

Bloomington PD to provide update on Mall of America shooting investigation

There's unconfirmed reports the suspected gunman and an accomplice have been arrested.

Screen Shot 2022-08-11 at 3.14.27 PM

Motorcyclist found dead behind guardrail 6 hours after crash

The crash happened before sunset Wednesday, but no one called 911.

Screen Shot 2022-08-11 at 2.49.44 PM

Strike vote set for 15,000 Minnesota nurses

If the nurses walk off the job, Minnesota would be home to one of the largest nurses strikes in U.S. history.

DSC_8611

Iowa Gov. asks court to lift injunction on 'heartbeat' abortion ban

A court challenge seeks to revive Iowa's abortion ban.

zipper merge, construction

6 transportation projects in Minnesota get $100M federal funding

The projects extend to areas all across the state.

covid

Minnesota's COVID-19 update for the week ending Tuesday, August 9

The number of cases in the latest reporting period dropped compared to the previous week's update.

Screen Shot 2022-08-11 at 11.27.17 AM

Takeaways from Minneapolis' new gun violence report

The rise in violent crime in Minneapolis is showing signs of plateauing.

bmw-g1a1c50760_1280

Man, woman arrested after shots fired from BMW at 3 motorcyclists

The driver of the BMW led police on a chase, driving the wrong way on state highways.

Screen Shot 2022-08-10 at 2.02.48 PM

Drive Shack Inc. announces upcoming 'Puttery' venue in Minneapolis

The growing business backed by Rory McIlroy is coming to the Twin Cities.

Screen Shot 2022-08-08 at 7.13.33 AM

BCA: Man was 'running towards' deputy with knife before fatal shooting

The Minnesota BCA has identified the four deputies who fired weapons.

Related