Twin Cities home market appears less likely to crash than others, new data shows

Oct 26, 20220

Mark Vancleave, Star Tribune count

Signs point toward a nationwide housing market crash, but if the market does see a correction, the shakeout looks to be less volatile in the Twin Cities.

House price increases in the Twin Cities are slowing, putting the region on track for a softer landing if demand melts because of soaring interest rates.

During August, house values throughout the metro rose 7.64% over last year compared with a 13.1% gain for the 20-metro composite, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.

The closely watched index shows steady deceleration of house prices across the nation as higher mortgage rates erode affordability.

https://www.startribune.com/twin-cities-home-market-appears-less-likely-to-crash-than-others-new-data-shows/600218991/