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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Minneapolis
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A rough housing market appears to be making positive adjustments, as Porter notes that prices in Minneapolis have been stable in the last several months. But it's has seen one of the most dramatic increases in foreclosures, comparing January 2006 to January 2007.
4th quarter 2006: $228,300
Median price 4th qtr 2005: $230,500
% change: -1%
Projected avg price end of 2007: $263,750
Current avg 30-year fixed rate: 5.78%
Current avg 5/1 ARM rate 5.59%
*Affordability rating: 6.2
Foreclosures in Jan. 2006:
(1 for every 8,539 households)
137
Foreclosures in Jan. 2007:
(1 for every 1,609 households)
727
Change in foreclosures: +430.66%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $230,500
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price falls 1% to $228,300
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 3.99%
15 yr fixed mtg 3.06%
5/1 ARM 3.20%
Rates may include points
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