The article sites Minneap…
The article sites Minneapolis in the top 10 cities in the nation that is
experiencing: “Single family housing starts are
well ahead of last year’s pace, existing home sales are up, the inventory of
homes for sale is down and foreclosure activity is slowing. All in all, we are
more optimistic about housing. Upbeat trends continue. For the third time in a
row, all 20 cities and both Composites had monthly gains. Stronger housing
numbers are a positive factor for other measures including consumer
confidence.
“Among the cities,
Miami and Phoenix are both well off their bottoms with positive monthly gains
since the end of 2011. Many of the markets we follow have seen some decent
recovery from their respective lows – San Francisco up 20.4%, Detroit up 19.7%,
Phoenix up 17.0% and Minneapolis up 16.5%, to name the top few. These were some
of the markets that were hit the hardest when the housing bubble burst in 2006.
The 10-City has increased 7.4% and the 20-City 7.8% since their recent lows. The
positive news in both the monthly and annual rates of change in home prices over
the past few months signals a possible recovery in the housing
market.”
Text courtesy of S & P Dow Jones Indicies report –
September 25, 2012.
Well, if you’re looking for the bottom… it’s past us. We’re reading article
after article that are a lot like this Standard and Poors article written the end of September.
In fact builder supplies are becomming a shorter supply, pushing prices up, in some cases 5-10%.
Brandl Anderson Homes 