Skip to main content
Updated:
Original:

Minneapolis home prices up 0.8 percent for month, 10 percent from 2012

Author:

Home prices seem to be continuing a slow climb in the 20-city Case-Shiller index, including a 0.8 percent jump in Minneapolis from August to September.

Home prices in Minnesota's biggest city are up 10.1 percent from the same point last year, according to the survey, which is considered a key gauge of the U.S. real estate market.

In the 20 cities overall, prices extended a winning streak of year-over-year gains, posting the strongest jump since 2006, the Wall Street Journal noted.

Case-Shiller home prices climbed 1.03 percent month-over-month in September, up 13.29 percent on the year, which beat analyst expectations.

But the pace of home price increases is slowing, the Los Angeles Times notes.

The Wall Street Journal notes that as mortgage rates move up, some economists are speculating that home prices may have peaked.

Other factors, including higher mortgage rates and the partial government shutdown last month, have weighed on the real estate market, the Washington Post notes. Home resales and signed contracts to buy homes both declined last month, the Post notes.

“Other data suggest a market beginning to shift to slower growth rather than one about to accelerate,” David Blitzer, chairman of the S&P Dow Jones index committee, said.

Western cities had the biggest year-over-year price spikes in the latest survey, well above the 10.1 percent increase in Minneapolis: In Las Vegas, prices rose 29.1 percent, and prices were up in San Francisco 25.7 percent; Los Angeles 21.8 percent; and San Diego 20.9 percent.

Next Up

Best Buy - jjbers, Flickr

Police reveal new details about 'coordinated' Best Buy thefts

A large group stole thousands of dollars in merchandise from three Twin Cities Best Buy stores.

Seven Points exterior - 2

New tenant revealed for former Libertine spot in Uptown

The space will combine playful art offerings with a restaurant.

white Christmas

What are Minnesota's chances of a white Christmas this year?

The Twin Cities averages a white Christmas about 3 out of every 4 years.

ilhan omar press conference voicemail screengrab 11.30.21

'You will not live much longer b***': Rep. Omar shares threatening voicemail

Omar's office received the call hours after Rep. Boebert posted her video about the MN congresswoman.

Screen Shot 2021-12-01 at 11.24.09 AM

ESPN's 'Booger' makes fun of Wild fans' record cup snake

He's the same guy who thought the "Minneapolis Miracle" was bad for the Vikings.

brian ingram

Woodfired Cantina closes at Keg and Case in St. Paul

Restaurateur Brian Ingram is focusing on growing his other concepts.

giant bear

Video: 'THE fattest bear we have ever seen' spotted on MN trail camera

"This might be THE fattest bear we have ever seen in our area," researchers said.

u.s. attorney

Guilty plea from man who stockpiled guns, equipment to make bombs, drugs

Prosecutors say he had multiple guns, items to make weapons and pipe bombs, and lab equipment to make drugs.

polaris Ranger XP Kinetic

Here is Polaris' new electric Ranger off-road vehicle

The Minnesota-based company unveiled the electric UTV on Wednesday.

MNWOSO_Aurora

MN women's soccer team narrows name, logo options to final 3

The winning nickname and logo will be announced in January.

Related