Market Leaders Profile: Minneapolis/St. Paul

Data and information on the Twin Cities remodeling market

September 30, 2009

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 


Minneapolis Star Tribune: 'Sold' signs point to a market on the mend 

Minnesota Public Radio: Metro home sales show slight improvement

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