Home resale prices drop in Twin Cities

A four-month streak of rising resale prices for homes in the Twin Cities has ended. The Case Shiller survey tracks the resale price of homes in 20 metro area. In the Twin Cities in August, the resale price dropped .3%, according to the survey which was released this morning. The average resale price of a home is now about what it was in December 2008. The resale price, however, is 2.9% above what it was a year ago.

City
Change from

style='display:none'>JulyJuly

Portland
0.9%
Detroit
0.5%
Cleveland
0.3%
New York
0.2%
Las Vegas
0.1%
Denver
-0.1%
Nationwide
-0.2%
San Francisco
-0.3%
Washington
-0.3%
Miami
-0.3%
Boston
-0.3%
Minneapolis
-0.3%
Los Angeles
-0.4%
Chicago
-0.4%
Charlotte
-0.4%
Tampa
-0.5%
San Diego
-0.6%
Atlanta
-0.8%
Seattle
-0.8%
Dallas
-1.1%
Phoenix
-1.3%

“Even saying the market is ‘flat’ is sugar-coating it,” David Blitzer, who conducts the survey, said.

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