St. 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.