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).
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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?