Air continues to leak out of housing market

Posted at 4:18 PM on January 25, 2011 by Bob Collins (1 Comments)
Filed under: Economy

The recovery in the resale price of homes in the Twin Cities last year apparently was a mirage.

The Case Shiller Index from Standard & Poors, which measures the resale price of a home, has fallen for a fifth consecutive month in the Minneapolis area. It dropped 1.4% in November. It's the longest slide in prices since the index showed almost two consecutive years of declining home prices (month-to-month), which started in 2007.

Prices dropped 4.5% from a year earlier. After a near 18% decline in 2008, prices recovered slightly in 2009 (up a little over 1%).

Comments (1)

Bob, thank you so much for reporting this news without quoting someone from the Realtors Association saying that we've bottomed out and started to rebound. It just ain't true!

Posted by Ann | January 26, 2011 10:19 AM

Services

• Hourly Newscast
• HD Radio
• iPhone App / Mobile
• E-mail newsletters
• RSS feeds
• Podcasts
• Submit your photos
• Videos
• Weather
• Most e-mailed stories