After reviewing data sets from the Metropolitan Council and running some spreadsheets, I have come up with a couple graphs that illustrate what may be ahead for the Twin Cities real estate market. These are assuming Metropolitan Councils population and household forecasts are in the ballpark of what will happen.
This Chart shows the Population and the Households from 2000 to now, these we can assume are accurate figures. The question comes into play when we look into the future. Met Council forecasts that the 7 County Twin Cities Metro area will increase in population and households by 2020 and by 2030. These forecasts are in putted on the chart.
The Met Council had some data going back to 1970, that is as far back as I could find data. The data also was only in 10 year intervals up until 2000. So it is possible there was a small decline somewhere in there and then bounced back up. Either way, this is still an ominous sign for our region.