Twin Cities housing values: How big a drop in your neighborhood?

If you’re a Twin Cities area homeowner, here are a couple charts from today’s year-end 2010 report from the Minneapolis Area Association of Realtors that will make your head hurt.

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They show the change in median value of houses by Multiple Listing Service area from 2006 to 2010. It is not pretty. Click on the charts for a larger view and use the “page down” key on your computer to scroll to the bottom.

We’ve written a ton on MinnEcon about the long road back for housing values. These charts really bring it home.

As far as I can tell, only the Chanhassen and Maple Grove / Osseo areas showed increases in value since 2006.

Take a look at the charts and report and let me know if something surprises you.

It’s worth remembering that this isn’t just a numbers game. A house is typically the single biggest investment Americans make, an asset once relied on to build wealth and provide the means to send kids to college and provide a financial cushion in retirement.

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