2014 Minnesota Housing Market

2014 Minnesota Housing Market

The 2014 Minnesota housing market experienced some serious stagnation. However, along with the stagnation, this market also saw consistent signs of growth and a slow (but steady) improvement. As of the time this article being published, most market analysts (as well as many sellers) expressed a feeling of confidence in their housing market. The market backed up these optimistic views through an increase in the number of properties on sale: in … [Read more...]

2013 Minnesota Housing Market

With prices high and inventory low, Minnesota’s housing market is solidly on the rebound. “Home sales are at their highest level in three years, according to new national figures released on Thursday,” reported CBS Minnesota (“Realtors Expect a Bountiful Spring for Real Estate”) on March 21, 2013. “In Minnesota, the big story remains the lack of homes on the market, with inventory down more than 15 percent from last year.” Minnesota’s home … [Read more...]

Home Prices Fall Almost 5% in 2011

By Mike Colpitts Home prices fell nearly an average of 5% last year as a result of a troubled U.S. economy, decaying consumer sentiment, high unemployment and a foreclosure crisis that is running out of control, according to real estate research firm Core Logic. The company’s December Home Price Index showed an average 4.7% decline in U.S. home prices, which includes foreclosure and bank assisted short sales. The year-end report indicates … [Read more...]

2012 Minnesota Housing Market

A reduction in distressed home sales, especially foreclosures is sending Minnesota housing markets into a recovery sooner than most of the rest of the U.S. An increase in drastically discounted real estate sales, however, with banks in short sales, in which homeowners sell for less than what they owe on their mortgages are helping to propel Minnesota into a housing recovery. Frustrated with the market, lower home prices and disappointed they … [Read more...]

Home Prices Tumbled Less in 2011

By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm said prices fell 1.4% in October, which marked the fourth straight month home values … [Read more...]

Index Shows Housing Prices Decline

By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures and housing deflation, declining 12.1% in the last 12 months. Illinois had the second highest level of depreciation … [Read more...]

Tax Free Real Estate Purchases Climb

By Mike Colpitts Boosted by lower real estate prices and growing volatility in financial markets, investors are increasing their purchases of tax free real estate investments. Investors are moving away from investing in equities in the stock market and other financials in growing numbers due to a chorus of concerns, including insider trading, automatic machine trading and criminal conduct. Retired investors are shopping for higher returns … [Read more...]

Homeownership Drops by Largest Amount Since Great Depression

By Jeanne Roberts It’s probably no surprise that the number of individuals owning homes has experienced its biggest drop since the Great Depression, an epoch usually defined as the decade between 1929 and 1939. The figures are from the U.S. Census Bureau, and show that the rate of homeownership fell to 65.1% in April 2010, or 1.1% lower than it was a decade earlier. This is compared to ownership levels of around 70% in 2005, which means a … [Read more...]

Home Prices Decline Year Over Year

By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing Predictor forecasts for most U.S. cities for the year. The 0.4% August drop was the first decline in four months after … [Read more...]

Tornado, Flood Damage Tops $260 Billion

By Mike Colpitts Catastrophic flooding along the Mississippi River and the outbreak of tornadoes in the Midwest and South are destroying thousands of homes and businesses. The series of disasters are estimated to top $260 billion in property damage, according to initial estimates gathered from federal and state authorities. A tornado believed to be just shy of an F-5 with winds that were estimated to be 198-miles-per-hour just two m.p.h. … [Read more...]