Twin Cities real estate market is now among country’s hottest

The hottest real estate market in the country when it comes to the resale value of homes? It’s Minneapolis-St. Paul, according to the monthly Case-Schiller Index, which tracks these things. Here’s the results for August, which were released this morning (seasonally unadjusted).

City
Increase/Decrease
Minneapolis
3.2%
San Francisco
2.8%
Detroit
1.9%
Chicago
1.7%
Phoenix
1.6%
Los Angeles
1.6%
San Diego
1.6%
Washington
1.4%
Miami
1.1%
Atlanta
1.0%
Denver
1.0%
Boston
0.9%
New

York

0.5%
Tampa
0.4%
Portland
0.3%
Dallas
0.2%
Seattle
0.1%

Las Vegas
-0.3%
Cleveland
-0.5%
Charlotte
-4.0%

It’s the fourth consecutive month of home value increases in the Twin Cities — up over 12% over that time. The impressive rebound over the last few months has also pushed the local index into positive territory for the year — up 1.9%. The index, however, shows the home resale value is still 13% lower than a year ago.

And when it comes to green shoots, when’s the last time you saw any economic survey that Detroit near the top of the positivity heap?

  • BJ

    Just say story about homes up for auction in Detroit could not be sold, at $500 min bid.

    So how does that add up?

    Homes that are sold are higher value, I guess?

  • mulad

    Sigh. By the time I have enough money to buy something, it won’t be enough money.