Residential Housing Data – Real Estate Matters
Browsing Tag

Residential Housing Data

Residential Real Estate, Residential Real Estate Index

Twin Cities’ home prices continue downward trend

Residential Index CoverOctober’s uptick in the median price of a Twin Cities traditional-sale home (not a short sale or foreclosure) didn’t last long. The numbers are now in for November, and they show that traditional-sale prices have resumed a downward trend that began in July.

According to an analysis released today by the Shenehon Center for Real Estate at the University of St. Thomas’ Opus College of Business, the median price of a traditional-sale home in the 13-county Twin Cities market decreased from $189,600 in October to $185,500 in November.

The St. Thomas Residential Real Estate Price Report Index, now in its sixth month, tracks the median prices for traditional home sales, short sales (homes sold for a price less than the outstanding mortgage balance), and sales where the home’s mortgage has been foreclosed.

In all three categories, the median prices have fallen below the lowest levels recorded in 2009.

Altogether, the Residential Real Estate Price Report Index tracks a total of nine data elements to measure the health of the Twin Cities market.  For comparison purposes and to gauge how the market is doing, the university assigned a baseline index value of 1,000 to January 2005, a month that was near the apex of the residential housing bubble. Each month’s index can be compared to the previous month, year or market peak to understand the relative strength and direction of the Twin Cities housing market.

Here’s how things looked in November for the three categories of sales: Continue Reading

Real Estate Trends, Residential Real Estate, UST Program News, UST Real Estate in the News

New Twin Cities residential real estate index now tracks gulf between traditional and distressed home sales

Residential Index CoverSt. Thomas’ monthly residential real estate index uses nine data elements to provide a more detailed analysis of the 13-county market trends.

How much is my home worth? Twin Cities homeowners asking that question might find some encouraging news in a new residential real estate index that for the first time separates traditional, normal home sales from foreclosure and other distressed sales.

The Shenehon Center for Real Estate at the University of St. Thomas’ Opus College of Business released its first Minneapolis St. Paul Residential Real Estate Index. The monthly index uses nine data elements to measure the strength and health of the residential housing market in the 13-county metro market.

The St. Thomas index was developed to provide a more detailed analysis of the Twin Cities residential real estate market than is available from the Standard and Poor’s Case-Shiller Home Price Index.

The widely used Case-Shiller index uses data from repeat sales of single-family homes. It does not distinguish, however between a traditional, normal market sale and a distressed sale. Traditional sales are those unaffected by foreclosure or the threat of foreclosure. Continue Reading