Minnesota/National Housing numbers released
S & P/ Case Shiller released its report today. Home prices fell in the first quarter compared to the fourth quarter, but were up 2 percent from the market’s trough in the first quarter of 2009, according to the data. Minnesota housing numbers faired better than many in terms of pricing.
Once again the numbers have to be taken in context – the mix of inventory sold this year is different in many areas. Loan modifications and the hafa program have delayed many foreclosure filings. Therefore the risk to additional price declines is very real in Minnesota ndother markets around the country. The thing every potential buyer and seller should keep in mind is that market data needs to be looked at at the micro level. Suburbs, communities, and neighborhoods should all be analyzed for pricing trends and potential risks when deciding whether to buy or sell. For a comprehensive evaluation on your home or home you may be thinking of purchasing contact our office at 952-943-1324