The Composite 20 Case Shiller Home Price Index posted a 1.9% increase in July for data published today. You have probably read the news that this is 12.4% Home Price Increase nationally year to date.
Minneapolis, MN Case Shiller Price Index posted a 1.8% increase in July and respectful 9.5% increase year to date.
Not a bad a return on an investment… …unless of course of you were like me and bought between 2004-2007! At least it is headed in the right direction.
Nationally speaking, experts are predicting more and more homes coming on the market as more and more people are in the position to sell again. With this increase in new inventory, prices are expected to level off again. So far, we haven’t seen this added increase in inventory in the Twin Cities, but I suspect we will be seeing signs of that soon enough.