Market Snapshot: Case-Shiller vs. Ross Kaplan According to the just-released S&P/Case-Shiller home-price index, Minneapolis home prices rose 1% in May. If you like raw statistics, the May number was 109.77, vs. 108.51 in April. Notwithstanding the “scientific” ring of such precise numbers, my Realtor’s, “boots-on-the-ground” take is that things are much more amorphous. Here’s what...Read More
Where: 2600 Inglewood, in St. Louis Park’s Fern Hill neighborhood What: 3 BR/2BA Georgian Colonial with just under 2,000 FSF How Much (Asking Price): $374,900 When: May, ’09 Who: Ross Kaplan, listing agent Case-Shiller may show that the Twin Cities dropped 6.1% in March, but that didn’t stop this handsome Colonial from selling quickly (technically,...Read More
Local Reaction to Case-Shiller Numbers Apparently, Case-Shiller’s March statistics showing a 6% drop in Twin Cities house prices provoked a range of reaction, including some questioning its accuracy. Chris Snowbeck’s piece in the St. Paul Pioneer Press today, “Home Prices Dive — With an Asterisk,” does a nice job cataloguing the responses (including a quote...Read More
“Are the Case-Shiller Numbers Right?” Chris Snowbeck at the St. Paul Pioneer Press is soliciting local Realtor and lender feedback to the latest Case-Shiller housing statistics. The (absymal) March numbers showed a record one-month fall of 6% in the Twin Cities. Snowbeck’s question to the “experts” (myself included): ‘are the Case-Shiller numbers accurate?’ Here’s what...Read More
Divining the Direction of Housing Prices,One Deal (and Tick) at a Time Both the stock and housing markets have “upticks” and “downticks.” The difference is that, in the stock market, ticks are measured in pennies, whereas in residential real estate, they’re measured in thousands — or even tens of thousands — of dollars. For the...Read More
December S&P/Case-Shiller: Minneapolis Down 18.5% The latest S&P/Case Shiller numbers (for December) are out, and to no one’s surprise, they’re dreadful: all of the nation’s 20 largest housing markets show decreases, from the merely bad (Dallas, Denver) to the shocking (Las Vegas, Phoenix). Minneapolis shows an 18.5% drop from a year earlier. Before you jump...Read More
