In a sign of incremental economic recovery, monthly home prices have jumped in 19 of 20 U.S. cities, with Minneapolis seeing one of the biggest increases among major metro areas.
The Dow Jones report for the S&P/Case-Shiller Home Price Indices released Tuesday says Minneapolis home prices rose 2.9 percent in April/March, after a decline of 1.1 percent in March/February, to make it the biggest gainer over the three-month period in the survey.
"Compared to March 2013, thirteen cities showed improvement," the reports says, "with Minneapolis showing the largest change with a gain of 2.9% compared to its March return of -1.1%."
From March to April, home prices gained 2.6 percent and 2.5 percent for the top 10 and top 20 markets respectively, as CNBC reports. Average prices rose 11.6 percent and 12.1 percent in April from a year ago.
For Minneapolis, according to the report, that figure was 14.8 percent.
All 20 cities showed positive year-over-year returns for at least the fourth consecutive month, the report says. "Atlanta, Dallas, Detroit and Minneapolis posted their highest annual gains since the start of their respective indices."
This local real estate agent's blog is equally optimistic.