This article first appeared in the PR October 2009
issue of Pro Remodeler.
Population: 3,229,878 (8.8 percent increase since 2000)
Existing home sales: Q2 2009 sales were down 6.4 percent from 2008, but up 69.9 percent from Q1
Home prices:
- Down 19.8 percent from 2008
- Down 33.7 percent from September 2006 local peak
- Down 27.2 percent over last 5 years
- Up 21.2 percent over last decade
Homeownership rate: 71.9 percent (No. 15 among major metros)
Median household income: $63,866
Local unemployment rate: 7.9 percent (up from 5.2 percent in 2008)
Sources: Minneapolis Area Association of Realtors, S&P/Case Shiller Home Price Index, U.S. Bureau of Labor Statistics, U.S. Census Bureau
RELATED LINKS
Minneapolis Star Tribune: 'Sold' signs point to a market on the mend
Minnesota Public Radio: Metro home sales show slight improvement
Data and information on the Twin Cities remodeling market