Minneapolis Case Shiller posts modest gain for November

Minneapolis Case Shiller Index posted a .1% gain in November/October Seasonally Adjusted release.

The Composite 20 posted a .7% gain Seasonally Adjusted for the same period.

I personally like to see our marketplace posting modest gains below the Composite 20.  As we have experienced before, rapid price increases (aka bubbles) isn’t always the best thing for the housing market!  This slow steady pace of housing value increase combined with low unemployment numbers in the Twin Cities reassures me that we are coming back to a healthy housing market locally.

01272015 Case Shiller Index

 

 

 

2014 Certificate of Rent Paid (CRP) – Due January 31st 2015

It is that time of year again for all you Landlords to send out CRPs.

The 2014 Certificate of Rent Paid forms are due January 31st 2015.  These need to be sent out anyone who had rented from you in 2014.

Click on image below to link the Minnesota Deprtment of Revenue’s CRP Form

MN CRP 2015
Minnesota Department of Revenue Website

 

 

 

Minneapolis/St Paul Unemployment Rate at 3%

The Unemployment rate in Minneapolis/St Paul is at 3%, which we haven’t seen since the late 1990’s.   The national Unemployment Rate is at 5.8% for November 2014.   If we are to assume this is a good measure of the economy, then I would say things are back in full swing.  I am still cautioned because of the way the unemployment rate is calculated, it does not paint a full picture of employment situation.  A better representation would the Labor Force Participation Rate, but unfortunately that data is not available for the Twin Cities metro area that I am aware of.

Mpls St Paul Unemployment Rate Dec 2014

 

Minneapolis Case Shiller Index vs. Composite 20

The Minneapolis Case Shiller Index posted a small .11 point gain in September 2014 in December 2014’s press release.  The index shows the housing market stalled out a bit in July and August but is showing a small uptick again.  I believe going into 2015 we will see some small ups & downs but overall the housing market will continue along its recovery trajectory.

Given the Twin Cities housing market currently has a 3.6month supply of homes, that is an indication the there will be pressure on home prices to rise this spring.  3.6 month is a buyers market approaching a balanced market.

Mpls Case Shiller Dec 2014

 

 

Argenta Hills Model foundation in

Kootenia’s model has the foundation in!  Looks like just in time for before the cold weather.   This is a great time of year to get a home framed up because of the moisture content from the weather can swept and shoveled off the wood rather than be soaked up by it.  That makes for fewer nail pops and seams splits in the drywall later on.

 

 

I don’t know if these photos give you a visual reference, but this basement is 12′ high!  Did you ever want to have a baseketball court in your rec room?