Twin Cities Prices Slump (but only a little)

by Alex Stenback on February 23, 2007

Msp_q4_housing
click image for big

CNN.Money has put together a nice little graphic table (from which we clipped the above image)  with the recently released National Association of Realtors (NAR) stats from the 4th quarter of 2006.

This data confirms what has been obvious to anyone who has sold a home (or, especially, sells homes for a living) in our market: The heady days of double digit annual appreciation are behind us.  To be fair, calling a 1% slide in prices a "slump" might be a bit of a stretch, and we’ve held up better than many markets – so for now, lets call it a regression toward the mean.
· Latest Home Prices [cnn.money]
· Record Home Price Slump [cnn.money]

{ 5 comments… read them below or add one }

house mortgage March 4, 2007 at 2:50 pm

very true, great blog!

Ross Gordon March 6, 2007 at 10:22 pm

I grew up in MN, St. Louis Park to be exact. My dad still lives there. But i haven’t been back in a while. It’s nice to see what the property market is like these days. Just wanted to let you know i dig the blog and thanks for the info.

duane March 20, 2007 at 2:57 pm

Have you guys heard anything about the sub prime mortgage market?

Stephen Gross March 23, 2007 at 5:05 pm

Those stats are annual, right? I’d like to see the same information, but calculated from a moving 10-year average. Given that most people own homes for more than a year, it would also be informative to see how home prices are moving in the long run…?

Thanks!
–Steve (http://grossreport.blogspot.com)

Home Mortgages UK March 24, 2007 at 3:29 pm

That is a great stat tool…very neat!

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