Skip to main content

Minneapolis housing price growth slows slightly

  • Author:
  • Updated:

Growth in housing prices in Minnesota's largest housing market seem to mirror a national trend: solid but slowing.

A new report suggests home prices nationwide continue to rise, but the end of a vigorous recovery may be near, U.S. News and World Report notes.

July's housing prices showed signs of leveling off, according to the latest S&P/Case-Shiller Home Price Index figures, for July, which were released Tuesday.

Year-over-year, the Case-Shiller 20-city composite index remains solid, with prices increasing in all 20 large urban markets. Minneapolis housing prices are up 9.5 percent year-over-year from July 2012. (That compares to about 12 percent for the broader 20-city index.)

But price growth has slowed in recent months. Here's the price growth for Minneapolis:

March to April: 2.9 percent

April to May: 2.1 percent

May to June: 2.3 percent

June to July: 1.8 percent

“The story here, we think, is simply that the rise in rates has deterred some proportion of would-be homebuyers, at a time when inventory has started to rise,” Ian Shepherdson at Pantheon Macroeconomics, told the Wall Street Journal. “Sellers have had to respond, so price gains are slowing. This process is likely not over yet.”

The Case-Shiller index says the Twin Cities housing values remain more than 20 percent below their peak in 2006, MPR notes.

Next Up

minneapolis police

Man fatally shot overnight in north Minneapolis

The shooting was reported around 2:20 a.m.

Screen Shot 2022-05-22 at 8.30.08 AM

Campsites closed at Voyageurs National Park due to 'historic' water levels

All backcountry trails and campsites are closed, as well as many frontcountry sites.

state capitol Minnesota

Lawmakers reach agreement on tax cuts ahead of session's end

Lawmakers announced they had reached a deal on a tax bill Saturday ahead of the looming session deadline.


Victims of daytime drive-by shooting in Robbinsdale identified

The two men died after a hail of bullets struck a vehicle.

Screen Shot 2022-05-22 at 8.14.37 AM

Source of 'loud explosion' in Brooklyn Park a mystery

The noise was investigated by police, but no source could be determined.

covid, vaccine, booster shots

COVID: All Americans over 50 advised to get a second booster

Cases, hospitalizations and deaths are on the rise again as new COVID variants emerge.

J.W. Peck (left) and Eric Galler.

2 Minnesotans inducted into White Castle's Hall of Fame

White Castle — it's what a man in Minneapolis and another in Woodbury, crave.

Screen Shot 2022-05-21 at 5.46.37 PM

Video shows officers ended pursuit before fatal crash in Anoka

The crash occurred when the driver fled police during an attempted traffic stop in Coon Rapids.

Eli Hart

6-year-old Eli Hart identified as boy found dead in car trunk

The kindergartner's father was trying to get full custody of his son.


Boy found dead in trunk of car in Mound was kindergartner

"It is horrifying and difficult to process a tragedy of this magnitude, especially in our close-knit community," the superintendent wrote.

Minneapolis police

Man found yelling for help after being shot in Minneapolis

The shooting occurred on the 800 block of Elwood Avenue North at around 9:15 p.m.

Screen Shot 2022-05-21 at 9.56.21 AM

Minneapolis North principal says she was fired, district says otherwise

“MPS requires schools to follow protocols in times like that and I did not,” Friestleben said.