Minneapolis housing prices up 14 percent over last year


The monthly 20-city Standard & Poor's/Case-Shiller housing index released Tuesday showed positive growth when taken on the whole: Home prices in the cities continued to soar in May, rising 12.2 percent from a year ago, USA Today reports. That was the most robust annual gain in more than seven years.

Prices went up month-to-month, too. From April, prices rose 2.4 percent in the 20 cities, Case-Shiller reported.

All 20 cities showed positive monthly returns for May, including Minneapolis, where prices rose 2.2 percent from April to May, the report says. Minneapolis home prices also rose from March to April, by 2.9 percent, after a decline of 1.1 percent in March/February.

Home prices are up 14.1 percent in Minneapolis from last year, the newly released report says.

Case-Shiller has just one gloomy figure for Minneapolis: When adjusted for seasonal factors, prices actually dipped in May from April in two cities, Cleveland and Minneapolis: -0.2 percent in Minneapolis. (Seasonally adjusted numbers are used by data crunchers to more easily compare month-to-month fluctuations, without the skewed data that comes with changes attributable to seasons.)

Next Up

Nurses on strike

Nurses start 3-day strike at Allina WestHealth in Plymouth

A "last attempt" at negotiations failed to produce an agreement last Wednesday.

boating minnesota lake

Minnesota has experienced its deadliest boating season since 2005

Minnesota has seen 17 boating-related deaths so far this year.

Drew Doughty

Kirill Kaprizov makes Kings’ Doughty eat his words

The Kings defenseman isn't a fan of the Wild star's new deal.

Quinn Olson / UMD Hockey

Watch: UMD's Olson goes between-the-legs to set up highlight goal

Another Saturday. Another highlight for a Minnesota college hockey team.

Gopher Hockey

Watch: No-call lifts Gophers to OT victory over St. Cloud State

A blatant hook marred a top-four battle in St. Cloud.

Ambulance hospital emergency

Driver killed after crashing into parked semi-trailer

The crash occurred on the 5800 block of University Avenue Northeast.

Mike Zimmer

Vikings-Panthers: 5 things you can count on happening

The Vikings will look to open things up in Carolina.

Tanner Morgan/Gopher Football

Morgan's resurgence, Nebraska's miscues help Gophers hold on

The Gophers quarterback threw a pair of touchdowns in a 30-23 victory.


Minneapolis housing prices increase

Good news for the housing market: The S&P/Case-Shiller home price index rose 2.2 percent in May, beating economists' forecasts, as all 20 of the nation's largest metropolitan areas posted gains from April. And 12 of the 20 cities had higher prices than they did a year ago, suggesting that the improvement is durable, the report said. In Minneapolis, housing prices were up 3.1 percent from April, and up 4.7 percent from last year.